Updated Watchlist

I missed a lot in the wee hours of the night!  I hope you took advantage of some of those setups we talked about.  Many of the pairs retested recent s/r levels and then did exactly what we thought.  I was sleeping *zzzzzzzzzzzzzzzzzz* (seems the market and I are on opposite schedules), but hopefully you folks overseas caught them! 

Here’s my new attack plan:

The CADJPY has triggered a 1h h/s and currently seems stuck in a muddy area between 87.23 and 86.86ish.  I’m going to wait for a retest of resistance and then watch for a bounce.  I’m not convinced that CAD strength is totally over, so I’m being patient with this one.

I went ahead and took a GBPJPY position, even though its late.  I’m giving it a lot of room to retest 141.11 w/  a SL at 142.10 and a PT 138.60.  Not the best R:R, but that will improve if I get a retest and if I don’t I’ll tighten by appropriate s/r levels.

EURJPY is currently stuck in a muddy level between 123.63 and 123, I’m watching for a bounce or a break.

EURUSD had a LOT of movement all at once, I’m not sure how much it will correct today, but I’m not getting in just yet.  I’m looking for a bounce either off of the 1.3588 level or the 1.3636 level.  But I’ll be patient on that one.  There may be some profit taking by the sellers after such a big move.

Those are my faves right now.  I don’t like that so many are JPY pairs, especially since the JPY looks ready to pause, but what triggers is what triggers, so I’ll see where it all takes me. 

Let me know what you’re watching/trading today and if you can join me at the FXStreet webinar at 12 EST, I’d love to have you. 

Triffany

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