Possible Wave Count

Chart courtesy of Dynamic Traders. Data provided by eSignal.

The above shows a possible wave count of the Euro as of 9am today.

You will notice yesterdays move down did a fib reversal so if you did not already have a position open on the Euro then the fib reversal was an excellent opportunity. Risk is always limited at fib reversals.

As for the Yen, ensure you lock in more profits today. We are about 146 pips in profit with this trade since I had mentioned it and also coming into a fib reversal zone so tighten stops in case we do not break through the support levels.

As always, good luck and don't go chasing trades. Always wait for set ups.