The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Sunday, June 27, 2010

FXE base

After recovering from all the hype in the early part of this month, the Euro currency has come back to a previously accepted value range.
Looking at this weekly chart of FXE, the measured move jumps out at you:There are a couple of Resistance zones overhead, but price looks more interested to test what's above than what's below at this point in time.$125 will be a big pivot to clear. If it can recover $125 support than there's a lot of clear air between that and $135 to test.

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