If we hold here ( & it's still a big "if") then there is a potential trade in the offing. We are at 79.46 as i write but i want to make sure we do not have another wave/cycle like we can see on the chart on the left. It needs to be a clean break up and away which means a decent angle of ascent. We have a potential double bottom (big 'W') with the RHS leg having a higher low than the LHS leg. Trade plan & setup entry to follow should things develop in its favour.If you believe that the USD is going higher then this maybe a opportunity that may not be repeated.
Tuesday 7 December 2010
€$ & USDX
If we hold here ( & it's still a big "if") then there is a potential trade in the offing. We are at 79.46 as i write but i want to make sure we do not have another wave/cycle like we can see on the chart on the left. It needs to be a clean break up and away which means a decent angle of ascent. We have a potential double bottom (big 'W') with the RHS leg having a higher low than the LHS leg. Trade plan & setup entry to follow should things develop in its favour.If you believe that the USD is going higher then this maybe a opportunity that may not be repeated.
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