toyogo00
01-14-2009, 07:27 PM
Setup: The video suggest a good shorting opportunity on the rally with SK resistance between 1.3356 to 1.3390 area:
http://www.dailyforexcharts.com/charts/090113_EurUSD_jt/090113_EurUSD_jt.html
At 3:00am EST pre-London session, the price rallied to the high of 1.3336, just below SK resistance zone and exactly on the yesterday resistance level. Then it rejected the resistance and dropped down to the low of 1.3188 and consolidated just below the 38.2 retracement of last swing high/low. (see chart)
At 7:15am EST, TRSI for hourly and 15min crossed down, entered short @1.3230 with stop loss just above the 61.8 @1.3285. The target p1 @1.3110 (FE100) and p2 @1.3020 (FE161).
At 8:30am EST, p1 hit for 120pips.
At 10:00am EST, exit p2 @1.3100 when TRSI crossed up on 15min for 110pips.
http://www.dailyforexcharts.com/charts/090113_EurUSD_jt/090113_EurUSD_jt.html
At 3:00am EST pre-London session, the price rallied to the high of 1.3336, just below SK resistance zone and exactly on the yesterday resistance level. Then it rejected the resistance and dropped down to the low of 1.3188 and consolidated just below the 38.2 retracement of last swing high/low. (see chart)
At 7:15am EST, TRSI for hourly and 15min crossed down, entered short @1.3230 with stop loss just above the 61.8 @1.3285. The target p1 @1.3110 (FE100) and p2 @1.3020 (FE161).
At 8:30am EST, p1 hit for 120pips.
At 10:00am EST, exit p2 @1.3100 when TRSI crossed up on 15min for 110pips.