i am been doing some analysis to day , i think we have to start with the main direction . If we agree eu will go long term up , that means different kind af waves in bullish condition . That means first the break out up then the confirmation down , the way to finish at 1.10 . so we can buy from there long term . But while that happen we have some waves up and down , that what we need to trade isnt it . . ? some traders , will wait for buying at 1,10 and then 5 month , can do nothing . But we are not such a traders , we want to trade every single day .This is the problem , So i hedge all the time , i never close any position even goes in other direction , . About the next wave i think is up to 1.25 , then down to 1.10 .. ..