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Trading notes 01/07/14

Hoping everyone had a great holiday season and that you are ready for
another good trading year. I will be back into full swing starting next week,
hopefully with most of this Midwest snow gone by then.

Today the EURJPY has consolidated its extension down from its late
December highs and has been slow going so far today. It is the
first solid
pullback in terms of time since the extension down and it is wedged up
pretty tight going into the afternoon. I will look to take the first long above
yesterday's highs and the first sell below yesterday's low. If the wedge
continues to rise up to where I can get a good sell off the inside test of
yesterday's highs I will also look for an opportunity there.

There is a whole lot of room for it to go below if it can get started so I will try
and leave some runners on for the break below the lows play but for the
long above yesterday's high I will look to be out of the majority of the
position around 144.20.

I hope to see you in the room sometime. Be sure to use the bulletin in there
to learn more about some of the filtering we can use to reduce trades down
to the better opportunities as well as a video on how to draw the
crunchies.

God bless you ~

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