Whereas vacationing with my family, I sat down at my laptop computer pc yesterday evening and pulled up a EUR/USD chart. I skyped a fellow seller to ask what the stimulant was accessible out there that introduced on such a bullish switch as we converse. He educated me that Citi had been bailed out and that the market favored it. Shares up....Eur/Usd up, that seems to be the theme over the last few months. I started in search of to see the place a possible bouce might occur. I went to the 4 hour chart and seen that although now we have now had a variety of makes an try on the 1.2950 stage, we had not pretty "reached" it over the last few weeks as quickly because it broke. It moreover lined up correctly with the 62% retracement of the swing of the extreme at 1.3295 to the low of 1.2388. Wanting on the 1.2950 I might even see a very good TSR area the place help and resistance was evident. I was watching value when it was at 1.2912, prepared for a surge up. It was sitting correct near the sooner week's extreme at 1.2926 and before now I would have traded it there. I really wanted to see it surge by way of to the 1.2950-60 stage, and it did. I had an order at 1.2956 nonetheless did not get crammed there. I watched value and when it did not preserve above that stage, I traded a pull once more at 1.2942. My drawdown was very small and inside an hour or so I had profited and left some accessible out there in anticipation that this can be an excellent pull once more for a lower switch. No one is conscious of at this degree and that's the reason I solely have 10% remaining on this commerce.
Such is the article 11-24 EUR/USD Commerce
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