Euro Analysis and Trade Setups
EURUSD Trade 1 = Buy at 1.3106 stop to open, use a stop loss of 1.3063, move the stop to break even at 1.3132, while exiting 1/3 to 1/2 position. Exit remaining positions on the pair at 1.3153 limit, or trail 1/2 to 1/3 of currency position up to a limit price of 1.3172 to exit.
EURUSD Trade 2 = Sell at 1.3063 stop to open, use a price of 1.3100 as the stop loss, move stop to break even at 1.3049, while exiting 1/3 to 1/2 position.
Exit the remaining positions on Euro-US Dollar currency pair at a 1.3014-limit, or trail 1/2 to 1/3 of position down to a price level of 1.2998 limit exit. See the 4-Hour MT4 Chart below with the Euro Forecast.
Dow-US Stock Market
DJI: The daily-Dow (DJI) forecast chart below shows the index is likely in a Wave 5 advance, to be followed by a larger sell off shortly (pun intended). Look for intraday reversals on the trend on the 15-30 minute charts for shorting opportunities on Friday (03/16/12) or Monday (03/19/12).
Higher Risk Trade: DJI: sell at 13,098 stop to open, use 13,251 stop loss, move stop to break even at a index price level of 13,029, while exiting 1/3 to 1/2 position. Exit remaining positions on the index at 12,903 limit or trail 1/3 of position down to 12,605 limit exit.
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