23 March 2010

EUR/USD and GBP/USD : Sell Stop-in below 1.3432 and 1.4780

  • Similar patterns for the current down legs of both charts.
  • (Topped out in different manner).
  • Previous consolidation phase marked in purple and break points represented by the respective purple horizontal lines.
  • Current phase = consolidation (marked in red). Once over, expect another round of fierce down for both.
  • Sell stop-ins placed below the red lines to capture the next down leg.
  • Addendum 1:30 pm 24Mar10 : Stopped in short EUR/USD @ 1.3427.

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