Daily Outlook: Yesterday's short was triggered at 1.3048 on the break of rising trend support (email sent to subscribed pro members) and all targets were quickly hit for 80 pips profit. The pair actually continued to drop for nearly 170 pips but given the low end-of-year volume we were happy taking our 80 pips into 2012!
Trading Idea: We will not be trading today as there are only two days left in 2011 and markets are whisper thin, meaning even slight rumors could whip you out of a position right now. Aggressive setups are shown on the chart above and if we were trading we would look to get long on a break above the falling trend resistance shown in blue at the bottom of the chart.
Signals will resume again Tuesday, January 3rd and we will embark on yet another year together! Thanks for making PipHut the #1 forex community year after year - we would be lost without you all :). CandlePRO and PRO S/R Breaks and Bounces will continue to work as normal and S/R charts will be updated for PRO members.
See you in 2012!