Sunday, December 29, 2013
A longer term look at the Yen
My personal trading style is daytrading. One of the reasons that I enjoy this style of trading is that I end each and every day flat, so I automatically ensure that losses, if not already closed out, are always taken. This is not to say that it is the best way to trade – it is just a style that suits me.
Todays charts are going to focus on the longer term trend for the yen. As a picture is worth a 1,000 words, here is my 9,000 word essay.
240 minute atr
monthly regression channels
look for prices to explore the 2.68 extension level
and then the 78.6% fib level
at some future point, this gap will likely be filled