Friday, April 3, 2009

Very Bullish formation

The Canadian Dollar/Yen (CAD/YEN) is a great medium term trade here. It's the kind of thing that this trader wouldn't be able to let run because it would correct the whole way up! But...if you have a relative with some extra money to invest...you could do a lot worse...I mean, just look at this chart!


This is what it looked like yesterday morning when we were getting ready to go seriously long (4/2) (Clicking on the charts give you clearer views):



Fundamentally, Japan is going to have issues. We've already seen the Yen creamed by all the other crosses. So pick a target...enter a generous trailing stop...and wait a little.

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