Euro dives. Breaks out of triangle.

Posted on Jul 11, 2011 by WHC Bassetti in Letters

Here the euro is breaking down out of a triangle.  These signals are usually pretty reliable-- especially after preparation like that seen in this formation.  While signals during this period are treacherous -- and given the euro situation doubly so --this one is worth a trade for us.

If you need any background on triangles it is in Chapter 8 of Technical Analysis of Stock Trends, 9th Edition.

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