Wednesday, December 12, 2012

EURUSD Short Trade EURUSD Channel Short Trade

This setup is in place form past few sessions and I have traded this setup previously. Previous post [here]. and [here].

Now another channel short trade is coming up. 

Price has bounced from the horizontal support area that I was watching. Currently price is near to channel's upper trendline. 

Price movement looks rangy and I expect the channel to hold. 

I plan to go short on touch of channel's upper trendline with a stop above the highs of 5-Dec.

-------------------------------------------------------------------------------------------------------------- EURUSD Channel Short Trade
 UPDATE ON: 12-DEC-12 16:20GMT:  I shorted EURUSD at 1.3045. Although it was not the touch of trendline, but it was pretty close and didn't wanted to loose this opportunity .

I went short of quarter of size and will add more on touch of channel.

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