Trading Signals for Friday, July 12 2013


It is Friday, the last trading day of this week. Therefore, as you would know, I am not in for active trading on this day.

But how can I not come up with my analysis of the day on my favourite EUR/USD pair. 

As we saw, the week started with a lower lows, but since Wednesday or the start of Thursday the market scenario just turned to highs and higher highs.

There was a lot of volatility in the market, and since the latter part of Thursday, it is getting to more or less stable.

But what from now on:

Well, well I see a major break-out happening in just half or an hour's time from now. Now how do I know it, well you see I saw the 15 minute chart. To be honest, I am a big believer of 15 minute charts, when it comes to sensing a big break-out.

And if you could observe it now, it is behaving very nice right now in a perfect straight line. I like to call it the lull before the storm situation.

And now coming to another important question: in which direction will the market break-out?
Ah…the answer is a big EITHER.  

But if I have to talk about my feelings and my guts, then it is the upper one only.

Let us all see what happens, and yes talking about the signals, they are as follows:

SELL EUR/USD at 1.3201 for a profit of 50 pips and a forgo losses this time; but yes ensure that you have enough capital/equity/margin in your account to sustain heavy losses.

But I ask you to forgo a stop loss because overall the direction of this pair is going to be in down South.

Come back to this post in 6 months, and leave a comment if/if not that happens.

Till then enjoy and be happy.

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