Date: 27/11/2012
Bias: Bearish
Looking at the daily chart, the price has hit resistance T1 and bounced. This made me turn bearish.
The prices retraced 68% (on 1hr chart) and bounced. We go short at current level (1.0389) against stop loss 1.0480 and first target at recent low or 1.0260 (T3 on daily chart). We will move the stoploss to break-even once the price hits 1.0290 (T2 on 4hr chart)
Bias: Bearish
Looking at the daily chart, the price has hit resistance T1 and bounced. This made me turn bearish.
The prices retraced 68% (on 1hr chart) and bounced. We go short at current level (1.0389) against stop loss 1.0480 and first target at recent low or 1.0260 (T3 on daily chart). We will move the stoploss to break-even once the price hits 1.0290 (T2 on 4hr chart)
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| Daily Chart |
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| 4hr Chart |
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| 1hr Chart |
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