Friday, November 30, 2012

EURUSD Approaching Short Trade Entry

  myfxvoyage.blogspot.com EURUSD Channel Trade
EURUSD H4
I am watching this setup from yesterday. Details [here].

Price has bounced after a brief dip and is approaching channel's upper trendline - my short trade entry point. 



200EMA & 100EMA comes in middle of the channel. 

  myfxvoyage.blogspot.com EURUSD Channel Trade
EURUSD Daily

1.30 figure has also been a major resistance/support area (see daily chart). But on previous 3 occasions, price has bounced above 1.30 only to pushed back below 1.30 figure.

I plan to go short on touch of channel's upper trendline which comes aproxx at 1.3035.40.


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