5/26 Open Positions and Orders

Eur/Jpy:

1/4 Lot (Long) @ 119.26 (this is my starter position, I’ll explain what I mean in my next post.)
1/2 Lot (Long) @ 110.97 – BE @ 113.73, no SL, TP @ 113.73 (BE)

1 Lot Order (Long) @ 109.05

Yesterday, we saw a decent retrace back up.  I thought about closing all of my longs and switching to a short position, but I really like the “buy the dips” strategy right now and am sticking to it.  My feeling is to let the divergence on the MACD play out until the end of the month.  My FIB study leads me to believe that the last bounce from 109 is fairly strong support and will lead to a retrace to 114 by the end of the month as well.

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