Wednesday, March 17, 2010

What was I looking at when I went short the EUR\USD at 15:50




I was looking at the 50% Fib and a resistance zone. The EUR\USD been down all day and then took off and seemed like it didn't have anymore steam taking too long to continue those aggressive move it moved up with. I also looked at another chart and saw the same candlestick pattern before the 2 previous big moves. I then switched to the 5 min chart and shorted on the second down candle.

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