Thursday, July 23, 2009

UJ closed for 40points on x1 full size

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UJ short +30, stops to be

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I almost want to apologize for taking this trade..

..as it's not a straight S&R and more of a trend trade. I've said no more of these...but this one I am taking. Trend, resistance @ 95. and 50% fib. Taken as a x1 full size trade with a 30 point stop, t/p 60 points.

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...and it's SO tempting to play this pullback on the

EUR/USD in expectation of continued movement up. However, I'll be sticking to the plan and waiting for the next S&R to come up.

Nothing yet this week, tight range continues

And although we're due for a breakout soon, that breakout may be very violent and some levels may be negated. We don't want to be stepping in front of any trains :)