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22nd May 2009, 23:26
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Sell signal on weekly USD/JPY
The USD/JPY has formed a head and shoulder now in the Daily charts. This is bearish. Also, a sell signal is just triggered in the weekly charts too, so I am short there now. I uses 150 - 250 pips stop depending if I am trading very long term or just a week. Right now I have a target at support (91.88), I expect it to retrace a bit from there, so I will go flat then, but enter short again when the expected retrace shows sign of weakness. I will not preach about which two indicators I use for this, I think you know that already, :-)
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Lucien 
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