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Monday, August 10, 2009

Fibonacci Wave Analysis on EUR/USD

Taking advantage of a wave analysis suggesting that EUR could rebound somewhat from current levels. I am trading to take advantage of that. I have abandoned the open and active EUR/USD position at a 63 pip gain and re-entering as follows:

EUR/USD
Buy 1 unit @1.41140 with a SL=1.4088, TP=open
Risk: 30 pips, $300/$30
Reward: open

From the Desk of
Aaron Reid

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