Based on the 8 EMA the 4HR stalled with a Long entry
Monday 7-5-2010
Entry Long 1.2533
Target 1.2600
Stop 1.2459
Update 6:47pm EST: US Holiday, price stood still most of the day. Stop is under the 21 EMA watching for possible strike down to that line....
Update 10:50pm EST: As Asia made the move to the 21 EMA 4HR, Long entry at 1.2480 line from last week pullback for +30 pips, while the initial Long remained in......(2nd chart)
Update 11:10pm EST: I released the Long at 1.2524 for a -10 pip loss, I will consider re-entry in the coming hours.
Monday 7-5-2010
Entry Long 1.2533
Target 1.2600
Stop 1.2459
Update 6:47pm EST: US Holiday, price stood still most of the day. Stop is under the 21 EMA watching for possible strike down to that line....
Update 10:50pm EST: As Asia made the move to the 21 EMA 4HR, Long entry at 1.2480 line from last week pullback for +30 pips, while the initial Long remained in......(2nd chart)
Update 11:10pm EST: I released the Long at 1.2524 for a -10 pip loss, I will consider re-entry in the coming hours.