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Trading notes 03/11/12
Its hard to believe its already March and this first quarter has almost flown by already. The EURUSD continues to perform well in its wider weekly pullback. It is still parked on its MC after spending the last couple months pulling back to it from below. There has not been a pop to the upside yet so I am waiting for that before switching the intermediate term bias from down/flat to up/flat. Currently both buys and sells are working really well since there is so much space in this area between the surrounding crunchies.
I don't usually find many trades on Sunday nights but tonight one lined up pretty quick after getting to the office. It was a first sell after a COP and KC pop on the 25x. The entry set up clean and allowed a decent stop above the recent highs and a target above the 1.3083 crunchy. I like these first signals because usually if I am wrong it will snap back pretty quick and let me play the first signal in the opposite direction, rather than just churn and churn.
I hope to see more of you in the room soon. Be sure to let me know when you need help and refer to the video in the Bulletin for instructions on how to draw the levels.