EURUSD trade setup for February 08, 2012

Here is our buy opportunity for today. Yesterday I published a trade opportunity to buy on the retrace of the break of the flag pattern. Well we got the break but price did not retrace to where we could of got in. So now I offer another opportunity. We have a few things we need to look for on the H1 charts. First I want to see a retrace to somewhere between 1.3205-1.3180 and I want to see a retrace to the trend line on the H1 charts as well but pay attention price could make the stop around . Now there are 2 things to look from here. One will be the completion of the bullish continuing divergence that will be created somewhere off these levels either 1.3230 or 1.3180 or if price makes it all the way down to the trend line we could complete a bullish hidden divergence. In both cases we are looking for divergence to jump in long on this pair.

EURUSD trade setup for February 08, 2012

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