Wednesday, July 10, 2013

Market Update, Mid-Week July 8-12

I am entering a Wonderwood short position. This is speculative, meaning there is not a confirmed break down. It is also counter trend because we are above the 50 DMA as has been discussed. This is a risky trade, and is front running so not a given. I may add to it if it goes my way.

Here is the Wonderwood Short Position:

The USDJPY level posted on Sunday has delivered the bearish reaction that was anticipated. Dollar Yen Trade Post.

Here is the updated chart:

Peace, Om,