View Single Post
Old 12-12-2011, 12:17 PM   #1043
Registered User
Dcha's Avatar
Join Date: Oct 2006
Location: Kansas
Posts: 1,560
My Ride: Mkodama's sister
Send a message via AIM to Dcha
EURUSD channel break direction should be your outlook for the week.
POT had good risk/reward because if it breaks the low it's going to dive, but you have potentially more upside than downside risk if it doesn't break the low. The trick was to get long there and hold it into resistance where you would lighten up because of the risk of a smackdown. When it made a confirmed break of a trendline, you'd get back in for a massive short squeeze.
SODA was pushing into the trend line and with a break of that we were looking for a move.

Most of this is null and void now after today. EURUSD broke the channel down and here we are.
Dcha is offline   Reply With Quote