Monday, November 26, 2012

EUR/USD- Important

This is where you'll see any information on the EU before news even has it and it looks like the Euro is trying to make a move above the triangle, this is something I said earlier I was surprised it didn't do and then head lower as a head fake move, but now it's hard to know whether it's a head fake on that price pattern or the real thing without seeing the news.

Because the 5 and 10 min charts look bad in the Euro, I'd say if anything it is more likely to be a head fake move.

This may not be settled until the overnight session. I'm not moving any positions, still long the leveraged longs for the cycle that has been put together over the last month, still keeping the AAPL put and FAZ call open for a near term pullback and still holding core shorts, all of which are at a profit for the longer term, but those may be closed upon any pullback, depending on how the underlying tone reacts.

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