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Trendline broken to downside |
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ForexPlane.com Editor
: 2/12/2007 9:57 PM
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A long-term trendline has been broken, showing weakness in the pair. From this point of view, a double-bottom might be in play here. We might short it to the nearest support (the pivot between 2 tops) and see what happens from there.
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EXIT 1.9668 |
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ForexPlane.com Editor
: 2/7/2007 9:47 AM
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I exited due to the upcoming news on the UK data. Also the resistance was just a bit above. It seems that UK data doesn't really affect the volatility as much as expected. US data more so, but UK moves within reasonable range for the stop loss not to be taken out.
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stopped out 1.9625, long finally at 1.9633 |
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ForexPlane.com Editor
: 2/6/2007 10:04 AM
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The consolidation pattern didn't continue the previous direction, instead stalled and went up. Stopped out and went long after breaking out a key near term resistance 1.9616. Target 9700, stop same as resistance (which is now support).
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Short 1.9610 |
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ForexPlane.com Editor
: 2/6/2007 6:19 AM
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Taking a short here where this rally seems to be failing. It's been sitting overnight without movement. Possible the London opening may shake things up. We'll see. Target is last lowest level.
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