Result on May 26th (Click on the chart to enlarge it)WINNER
This is a winner! The 138.20% fibo projection at price area 1.4040/50 did hold the bulls. So my strategy posted on May 24th as below made a nice 120-pip move:
" SHORT at 1.4040/50 price area (watch for resistance/Double-Top at last Friday´s close at 1.4050) with STOP 1.4065 and LIMIT 1.3921 (123.60% Fibo projection) ".
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Initial Post on May 24th
(Click on the chart to enlarge it)Last Friday prices rallied to 1.4050, very close to the 1.4040 level which is the 138.20% fibo projection from up move 1.2886 to 1.3722. Very hard to say if this 138.20% will hold the bulls and push prices down for a short-term bearish correction.
So my points are:
* SHORT at 1.4040/50 price area (watch for resistance/Double-Top at last Friday´s close at 1.4050) with STOP 1.4065 and LIMIT 1.3921 (123.60% Fibo projection)
* LONG break 1.4050 with STOP 1.4015 and LIMITS 1.4139 (150.00% same Fibo Projection ) and 1.4237 (161.80% same Fibo projection).
