Daily Archives: January 5, 2009

Consolidation or will it be a Whipsaw

E/U 1.3630   550pm NY We are not fibo retracement traders. We do not (rarely ever) trade bounces against a most recent technical move. This leaves me trading less than 1% margin with a bull break above 1.3659 after a tap back to 34 to targett 1.3744 (less or more). Our preference is to consider the bearish…

EUR/USD 1.3607 — 11:07 AM NY

1.3607 – 11:07am NY This bearish move was firmly technical on the 1Hour with the exception the burst failed to validate new resistance at 1.3803-24 and also 1.3916. Rebounds target 1.3724-.3793-1.3849. Our first profit target (pt1) is satisfied at 1.3714 and pt2 is 1.3337-1.3263.   We hope to share our next entry in advance but…