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 IliaM
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 DanUK
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Oct 29, 2009
 Xj8
Althogh there can be no guarantees in trading there are high probabilities, Euro moved to 1.4700 a lot of trader would be looking at this area for a buy, logically it's a good place to monitor, trendline, fib retrace and a round number. There was reaction over a 7 hour period where price failed to close below it, a trade at 1.4750 would be a good move, I have since entered at that price, since doing this, price started to move back down, a quick fib from the low point (about 1.4680 ish) to the first red cand after 1.4750 (1 hr chart) tells me I have to 1.4722 (50% retrace of this small move) before I consider any action, I drew a small trendline from the low along with the fib and a retrace to 61.8% was possible and a good stopping point. It worked, price hit it and shot away back up. Always look for the little stories as well as the bigger pictures, it will help you decide whetrher or not to stay in or get out of a trade, I use it to keep me in.I'll post the picture addressed to you.
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