Monday, 5 March 2012


Ouch! I had a nice little short in the triple tops of earlier this mornings congestion( arrowed in the chart below at the CL failure) just under 1.3190 -target this centre line above at about 1.3155... this maynot be a full blown reversal but it was almost painful to watch as price just couldnt make it lower than the low 1.3160's. I kept my short position waiting for a failure and ended up with about 5 pips/nearly break even. Not a great result and stupidly i forgot about this template (above) with an important rection line across the 1.3150 level.
Is/was this the low? or are we going to make a violent inverted 'V' shaped move down of the same magnetude? It looks to me as though we may go higher if price can break convincingly over 1.3200. This will then set the tone for the next few days. Either way-up or down- we are now see market indications for the coming days.

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