PRICE ACTION

PRICE ACTION

wtorek, 26 czerwca 2012

As planed yesterday, after breakout to the downside, we got beautiful entry on the throwback at 1.2520 for a short trade with first level to take a profit at around 1.2440-1.2450.

Congrats for those who entered at 1.2520, and grabed thier few pips
Congrats for those who played whole move, as it was perfectly called, and possible to take from the top to the bottom (70-80 pips)
Congrats for those who entered and hold the trade till 1.2300 and possibly beyond, while tightening trailing SL
Untill we'll see meaningful close above 1.2590, I expect staying in the range (1.2440-1.2590).

After breaking out of 1.2590 - take long on pullback with possible TP @ 1.2725-1.2750 level zone (as a resistance of a wider range between 1.2440-1.2750) Break out of 1.2820 will open the space towards 1.3030.
If we break out of 1.2440 to the downside (but watch also PA around 1.2425) enter short trade on throwback with 1.2300 as a first TP level, and be aware of possible continuation lower towards 1.18

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