Head faked in the euro…

Posted on Feb 18, 2010 by in Letters

Six days ago we thought we saw the euro (FXE) turn.  Now we're selling our position.  Why Prof, Why?  Oh, we don't know.  Just don't like it -- just kidding.  There is an analysis.  The gap day six days ago turned into a spinning top (don't worry about the term, just look at the picture) instead of a power bar.  Then that surge up was canceled by the next three days.  Ah, but a sign of hope the 5th day -- what looked like a power bar.  Then that was canceled by yesterday and today.  We were willing to stick with it till it broke the low, but now we think you're either short or out.  Systems wise short is still the indicated trade. For our personal accounts we're sideways.

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