- Wipe clean from memory the unsuccessful nickel and dime-ing trading following the initial break of the inverse SHS. We move on.
- Can safely declare the neckline test over and successfully held. Which means that the inverse SHS is truly in play now, aiming for 1.4269.
- Weekly : From the Nov12 low of 1.2661, we now have 2 sets of 1-2 1-2 waves (or higher highs and higher lows = uptrend). Current price action should be a 3rd wave, so don't take profit! This is the time to go for the jugular.
- Trade : Initial long @ 1.3300 and 1.3328. Waiting to buy the break of 1.3485 next, or even on a minor pull-back.
- Risk : Do not want to see this back below 1.3307 now.
14 January 2013
EUR/USD : New Phase
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4 comments:
+1.3380
Stopped out @ 1.3298
News
Re-entered long yesterday +1.3293
+1.3353
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