FXE. Double pump headfake.

Posted on Jan 19, 2010 by in Letters

The euro gave a head fake causing us to think the downtrend was over and close our short.  Wrong.  the down trend is intact and short the euro is still the way to be.

The head fake was the gap up out of  what proved to be a consolidation pattern.  The subsequent gaps down reassert the down trend.

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