01/22/09 1:10 pm - EURUSD: Short at 1.3018
Went short after all, since the last bounce on the hourlies had the characteristics of an exponential “going-nowhere” pattern, and it stalled at key resistance of 1.3023. Stop set at 1.3115, but will tighten to entry on a break below hourly TL and next support at 1.2940. If the pair bounces on this level, I will exit immediately at a small profit. In that case, the rounded bottom that is currently forming on the hourlies will likely be completed. Target of my short trade is 1.2755. It’s a good trade with relatively low risk entry, but requires close supervision over the next 3 hours.
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
Subscribe by RSS
![[Valid RSS]](http://www.kangarootail.com/valid-rss.png "Validate my RSS feed")
