Wednesday, July 1, 2009

New Trade...that we may not hit

Looking to go long Euro/Yen, on a pullback to 136.14, but only a half position, in case of a further pullback. This is a classic swing trade that Bob Iaccino's Traders Outlook trading firm has set up. Great part about trading like this is there are no impulsive moves and the trades are well researched. So, this gives me a chance to see if I get confirmation from other indicators, without committing immediately.

I am watching a couple other less likely trades too.

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New Trade Triangle short video on the S+P here. The fact that there is a long rec from Bob on Euro/Yen, means that, at least in the short term, their traders could be equity bullish.

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