Tonight I'm seeing what appears to be a rounded bottom forming on the EUR/USD daily chart near a rising trendline that is acting as support.  Since the bottom has appeared to form right at the rising trendline, I'm going to jump into a long position and see where it takes me.

Price is currently at a low point in the pattern, so it will be a relatively low-risk trade.  I see this as possibly being a longer-term trade than my standard trade, and I may be in it for a few weeks as the Euro slowly turns around and moves up.  Hopefully.

• Long Entry: 1.28660
• Initial Stoploss: 1.26778

Edit 2/16/09 8:00 PM:  EUR/USD broke down through the rising trendline and hit my stoploss, taking me out of my trade for a loss of 183.1 pips.  I was wrong on this one - on to the next trade.