Another simple trade in a sideways market. I could have held for longer (maybe upto the 150 EMA) but I don't like to take chances with major trouble areas in a choppy market, in any market in fact.
Friday, December 7, 2012
EUR/CAD DAILY SHORT
A textbook setup by all means. Nice swing high in confluence with the 1.3 RN (EXTREMELY STRONG COMBO) with decent space to the critical area marked in blue.
This may not be the end of the down move but I stuck with my initial plan of taking all off at this (blue area) major trouble area just above the 150 ema.
This may not be the end of the down move but I stuck with my initial plan of taking all off at this (blue area) major trouble area just above the 150 ema.
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