EUR/USD

worth a long at 12857 on
first attempt basis. with tight stops
This is a trend line play

Looks like you could be right again Remo. Looking back from afar this looks like a beautiful triangle....ignore all the squiggly bits around the current trading: they come from daily charts. Hopefully this will break through the upper trend line with this move up from the lower trend line

this bounced of the trend line beautifully yesterday and moved 30 points on a first attempt basis.. now its re-testing the trend line so i would not go long on a second attempt.my remaining shares stops are just below the low of yesterday.

This just shows how trading the trend lines on a first attempt can be profitable
Obviously you need to be able to draw a trend line properly...This eludes majority of people.
Accuracy is every thing when it comes to day trading.

Having taken a closer look at the 'squiggly bits' ........



I'm gonna stick my neck out and say this is gonna confirm the trend line break and head down towards 1.227 and on to a possible 1.08 as this is possibly a wave C of C.....
Now watch the SP soar

I mentioned a few weeks back to keep an eye this development.... euro better turn here (not in my case) or its a kaboom down....

heres that updated chart.

diver your 1.22 looks good to me imo....





dl.dropboxusercontent.com/u/40497882/eur_usd_17may13.JPG