Tonight I've entered a long order on EUR/USD, which, if hit before midnight tomorrow, will be my last trade of 2008. It's been a very rough December for me, but I hope to end it on a high note.
Let's take a look at this setup...
The Euro's been in an uptrend on the daily chart for all of December. After hitting a high on December 17, the pair retraced back to the rising trendline, and now, on the 4 hour chart, we see a symmetrical triangle has formed. I've placed long orders at 1.4165 - if the pair breaks out of the top of the triangle and resumes the uptrend, my orders will be filled and I'll jump on board.
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Long Entry: 1.4165
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Initial Stoploss: 1.3985
Edit 12/31/08 7:23 AM: This morning I woke up to find that the pair broke out - but to the downside. So my long orders weren't hit, and likely won't be hit today.
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