I was happy to come home to see that I had gotten filled on my EUR/JPY trade this morning at 159.59 and that it was already 25 pips in the black. The more I look at this setup, the more I’m liking it. Looking back over the past year, NEVER has price been above the 10 EMA by 50-75 pips and a correction not taken place, just look what happened the last time!

Add to taht the MACD divergence with the RSI & ADX rolling over and I’m very optimistic. But that’s really all I can say at this point. I have my stop in place and am really just in wait and see mode. If it does roll over and touch the 10 EMA, then I’ll adjust my stop to just under the 160 range and have to decide whether or not I want to take half off of the table.

I’ll let ya know.