if euro goes up... some trendlines and resistance

Discussion in 'Forex Trading' started by PaulRon, Dec 6, 2008.

  1. PaulRon

    PaulRon

    chart
     
  2. JEB

    JEB

    I agree - EUR/USD will have some barriers to break through if it's going to move up. I'm short from about 1.2723, counting on the nearest down trendline in your chart holding as resistance, so I hope we see a few down days to begin the week next week. :cool:

    JEB
     
  3. Going up, 1.2723 seems quite far away. Where did you put your SL ?
     
  4. JEB

    JEB

    Yeah, it went pretty much straight up after Sunday night's open, and my SL at 1.2856 was hit, stopping me out for a small loss. I'll be watching to see how it behaves as it approaches the next areas of resistance. Prevailing trend on the daily chart is still down, so I'm maintaining a short bias.

    JEB