14 January 2013

EUR/USD : New Phase

  • 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.

4 comments:

Taichiseal said...

+1.3380

Taichiseal said...

Stopped out @ 1.3298

News

Taichiseal said...

Re-entered long yesterday +1.3293

Taichiseal said...

+1.3353