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1 hour uptrend line still intact... I'd actually be looking to take a low risk/reward long with tight stop loss below the trendline. Could see 1.3650 easily.
lol, I shorted before going to bed and woke up to a nice surprise. My first bigger profit since I finally changed my exit strategy. I used to use fixed profit targets and fixed stops and it caused a lot of temporarily profitable trades to end up as losses. Now I started exiting when the price starts to change directions. I just took a series of small losses and small profits followed by a larger profit which is what I was expecting from this strategy. Anyway, my thinking on Greece now is that the IMF and EU have not revealed exactly what criteria Greece must meet in order for them to receive any bailout money. I'm leaning on the idea that perhaps they'll end up waiting until the situation gets much worse before they do anything. Does anyone know a website to check Greek bond prices?
We're going to test the last Volume low, we built cause with strong volume to test this soon... If we break and maintain below 1.31 then 1.27XX comes... (weekly chart)
Yes, but we will have a nice short squeeze beforehand..... Should serve as a good opportunity to short.....
Looks to me like even the 4 hour trendline is broken now. But, I don't easilly trust Sunday moves so we'll see what happens.
I think the CHF intervention put the top in for this counter-trend for the EUR as well and the potential for discount rate hike favors downside break soon.