YCS pro shares ultrashort yenHi Trader. Keep watching this space. 65.71 seems to be the place to buy.
Trade ideas
$YCS achieves measured move target on weekly chart $USDJPYToday's close hit the second and higher measured move that I laid out for YCS. Two months ago I posted this chart:
Direct bulls-eye. The question is what comes next?
One possible scenario: I could see price bounce between 82.50 and 78.50 to digest gains and then try for higher levels after a period of consolidation. Alternatively price could overshoot to the upside and then come back and retest the 82.50 level.
At this point it may be unwise to initiate new longs in this ETF until things settle down. Those holding from lower levels may want to take partial profits and ride out any pullbacks as long as price holds above ~78.50 on a WEEKLY close.
Good luck!
$YCS breaking out . Can 2009 highs be surpassed? $USDJPY Measured moves shown on chart. If 71 holds then 78.50 and 82.50 are next upside targets
possible PT's for $USDJPYIf this pattern plays out then 55 and 50 could be possible PTs. Is this good for $SPY ?
Looking for a YCS bounce?Potential bounce area btw $54-56 for a move back to $60 then $63. $USDJPY $DXJ $SPX $SPY $STUDY
