See the related ideas for my analysis of this pair, which demonstrate the power and surgical precision of the Time at Mode methodology I learned from Tim West here. In this juncture, the weekly chart is offering a potential retracement entry, in case we were to see such an event, which would guarantee a 9.54:1 trade op.
In case price were to continue straight down, I'd be looking for alternative ways of joining the decline, perhaps having to resort to lower timeframe entries for instance. For information on managing positions, and getting trade signals and coaching, contact me or Nicholas Coulby (ncoulb1) here. We're running a trading room Skype group for Forex, CFD, Metals, Energy or Stock traders.
Cheers,
Ivan Labrie Time at Mode FX
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Forecast working great.
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Still, on track.
Trade closed manually
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Might be time to bail.
Trade active
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We might be able to reshort here.
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Trucking nicely.
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Nice short for now but be careful, trail stops down to protect profits.
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It's a good time to book profits, but keep trailing the stop loss. Trail stop to: 2.1319