Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
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EUR/USD is trapped between 1.3000 and 1.3090 with a weak bullish bias. It would not surprise me if this bullish bias ends at the NY open if we do not surpass 1.3090. A failure to surpass 1.3090 would eventually lead to a move down to the low end of this range (1.30). A breakout above the 1.3090 high would shift the overall bearish trend meaning that bulls would be in charge, if this happens expect a move to 1.3125 and higher in the coming sessions.
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Last edited by Alejandro Zambrano; 03-15-2012 at 06:04 AM.
First target achieved. I moved second target a few pips lower...If EUR/USD holds above the 1,3067 area, tommorow maybe will see an attempt to 1,3156 (second target) near the daily ema 50 area until it starts the second pull back attempt to 1,2975. Attachment 118087
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From here is pretty clear, while above 1.3070 the correction from today's move is bullish and shallow holding the 38.2% correction. While above here and an hourly close above the
blue 100 hr MA the bulls are in control and we could see more trend to trend line resistance.
The 61.8% retracement of today's rally is at 1.3048 almost exactly where the 50% fibo is on the daily, This looks like a nice line in the sand for being bullish.
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