A sneaky update!

Good Evening Dynamic Traders,

Thought I would sneak in an update before the day is out by looking at the Yen Dollar. I decided to write this update because I was looking at the Yen Dollar and thought that we might have had a long position soon available with price breaking above the VI and breaking out of the range.

You can see from the day chart below that price has broken above the VI and managed to climb a nice distance from the VI. Recently price has performed what could be a potential pull back in an uptrend.













This might look promising for a long position however if you zoom out on the chart you will see that price has been in a down trend for some time now.

Remember the saying – the trend is your friend until it goes round the bend.

This means that a long position may not be as close as I first thought, by looking at the bigger picture I have decided to wait to until price has moved more. My reason for this is because I need more confirmation that price has turned and has decided to climb.

How about you?

Carpe Diem

Richard Monnery