EUR/USD LATEST UPDATE





I'm short from 1.2176 SL: 1.2265. I took the position Friday

morning around 8 AM EST. I needed to trail the stop, however,

nodded off due to whacky resting designs a week ago.

Fortunately, the cost didn't abruptly switch on me through my stop

once more. I'm contemplating moving the s/l pronto to 1.2170, about

breakeven. I'll cover one more skip around the 1.1205 regions,

in any case, I might want to leave the exchange open and ideally make some

nice increases on a break beneath the 1.2060 regions. I wish I would've

gotten in before, yet have been zeroing in on the GBPUSD and

USDCHF of late.


Might it be said that anybody is in this exchange?


What is your take on moving my stop to 1.2170? Excessively close?

I put it here since I'm thinking there are somewhere around two levels

of obstruction from where we are currently on Fri close @ 1.2124:

1)1.2140 Fri high after bob from 1.1203 (close to Fri low) and ~50%

fibo from Friday high to 1.1203

2)just above 61.8% fibo (1.2159)of 1.2213->1.2077) and an earlier intraday

support for Friday


If it breaks these, I will hold on until a break of 1.2213 to long

or on the other hand, play more modest fibos to search for little pip gains until there is a reasonable

heading??


I need to be in a generally good position for good measure if it

breaks out of this day-to-day solidification. I could reemerge

on a skip of 1.1205 regions and back down off of 1.2200 regions. What do you

consider my thinking?


How might I work on this kind of fibo support/opposition examination ... perhaps for certain pointers? I saw the intraday and day-to-day twofold tops and head and shoulders, btw, yet didn't notice them. Both are pattern inversion signals, so it is a high probability we will see more drawbacks, yet it's still sort of risky concerning when for me.