24 August, 2010 12:21

24 08 2010

Had another stab at the falling EU this morning. Price broke below yesterday/this morning’s range and trade entered at blue line, stop at red and 1st TP at the gold line. Order entered and price proceeded to struggle between the range low now turned resistance and my entry which seemed to form an interim support. Could see there was a real fight as to which way it would go but you could almost sense that there was a lot of buying pressure affecting any possible move. Stopped out for full 54 pips on 3 contracts.

Real battle going on in EU. I did have another order set for a break of the re-based low at 1.2602 but I suspect this is a dangerous play and likely to result in being chopped up so it’s been closed. Maybe one or two days consolidation will clear things up for the next leg up/down.




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