21 December 2011

EUR/USD : Tested SHS Top NL ?

  • High in EUR/USD today 1.3197. Now all the way back down to 1.3060, forming a selling tail on the daily chart (as long as we don't make a sudden sharp turnaround up to a new day high today). [Daily chart not shown here].
  • SHS top on weekly chart (see chart on right) still in play. The NL is at 1.3223 this week. Again, as per the daily chart, as long as we don't come back to take out 1.3223, we could consider this current up squeeze to be a test of the NL. My money is on NL test to have failed and we continue on down.
  • Re-sold (a bit too early) last night at 1.3112. 2nd sell limit order above 1.3200 not filled. Pulled that as a fill now has to be bad news for EUR bears.
  • Pyramid sell on break below recent low at 1.2945.
  • Core Book : Re-built to about 40% of max Risk Off now.

1 comment:

Taichiseal said...

Sell stop-in @ 1.2945 triggered.