Tuesday, April 19, 2011

Game plan for Dollar and Euro

Here's my game for Dollar and Euro. Currently long Dollar average price 75.31
Short /M6E average price 1.4317.

Following chart explains all. Possible H&S pattern on Euro should get us around 1.41XX level.

Where we could stall and head back up or drop below. In any case I am planning to take off /DX at 75.615 and /M6E @ 1.4232 and go long at the same price with tight stop at 1.4200 even.

These are hard stop just to be safe if euro decides to drop further towards 1.40 area.

Currently I don't have stop on /DX long or /M6E short. I will see hows it acting overnight and apply my stops.

CheerS!!



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