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Technical: Mid term channel broke back inside the trend line. Looking for a push down to the Major trend line.
It's not shown here, but if you flip back and forth from the bid to ask, or just look at the bid ask, you can see that three hours ago there was some spread widening, so I'm placing my stop near the top of that.
Fundamental: Possible euro rate cut, and lower unemployment rate from the US.
Thoughts: I'm not risking much since the fundamental analysis on this is a little weak.
Risking about 11 pips, reward 100 pips.
Leave a quick comment on your thoughts;
Logan
Thursday, February 14, 2013
EURUSD Channel Top test short (Wills Trade) 14Feb2013
Technical: Mid term channel broke back inside the trend line. Looking for a push down to the Major trend line.
It's not shown here, but if you flip back and forth from the bid to ask, or just look at the bid ask, you can see that three hours ago there was some spread widening, so I'm placing my stop near the top of that.
Fundamental: Possible euro rate cut, and lower unemployment rate from the US.
Thoughts: I'm not risking much since the fundamental analysis on this is a little weak.
Risking about 11 pips, reward 100 pips.
Leave a quick comment on your thoughts;
Logan
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