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Hi Kevin,
I'm only looking at daily and weekly data, and yes, it looks like it's
broken down. But since you asked for "any thought" on this, the following
opinion (which is worth what you're paying for it), assumes you're
interested in a trade that will take weeks to play out.
Without taking a lot of time on it, I looked at the EUR and GBP to see if
there was any confirmation. I see too many mixed indicator signals to want
to jump on a short in the DX. But if I was still inclined to take the
chance, I'd wait for a small rally to retest the lower trendline of the
triangle for a better entry point, because I have the impression from the
EUR and GBP that they could be in for at least a brief decline (so I'd
expect SOME rally in the DX). I also have the impression (again, from a VERY
brief analysis) that a swing or position trade is going to be a somewhat
choppy affair here.
I think going short in DX immediately would be premature, so I can't get
excited about it yet. There's just too much conflicting info...
Now that I've put it in print, no doubt the DX will crash to new lows... : )
DC
----- Original Message -----
From: "pawprintpawprint" <pawprint1@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 15, 2009 3:14 PM
Subject: [RT] DX
> Hi Group...
>
> Is anyone considering today's move down in the DX a break of the triangle
patter that has been developing from the beginning of June? Any thought on
this would be greatly appreciated.
>
> TIA ~kevin
>
>
>
>
> ------------------------------------
>
> Yahoo! Groups Links
>
>
>
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