- Intended to look for place to go short EUR/USD. Changed my mind on closer examination of chart. Done the reverse instead.
- Weekly : Downtrend line going back to 2Q11 broken. SHS bottom neckline (around 1.3060) being tested now. EUR/USD should be a "buy dip" instead of "sell rally" from now on.
- Daily : 1.3171 is important. Buy the break.
- Trade : Just gone long EUR/USD @ 1.3086. Will stop myself out if we fail to close above 1.3060 tonight NY cut. If we do close above, then we've got ourselves a good SHS NL break to play with.
- As mentioned before, trendline breaks alone do not make good signals. Has to be in conjunction with some other technical reversal pattern for me to make a trade.
- [New look for Saxotrader charts. Unfortunately, unable to turn off chart toolbar or make candles fatter yet. Have made request to them already.]
14 December 2012
EUR/USD : Inverse SHS ?
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Buy stop-in @ 1.3138 triggered. Increased long.
Stop-in Buy Order triggered. +1.3171.
Took partial profit. Sold @ 1.3279
+1.3246
Squared up totally near NY close of business. Price action = reversal. Op 1.3227 Hi 1.3307 Lo 1.3222 Cl 1.3225.
Dumped the balance of long at 1.3236.
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