Great day everybody!

Today I will share with you my latest trades.

Here is a 240mins chart on EUR/USD.

The previous Higher high was 1.4579 way back during the mid January 2010. It started heading south at 15th Jan 2010 until there was a little pullback from 17 to 19 Jan and then it went on plunging. The Second pullback from the downtrend 21 to 25 Jan with a difference of 166 pips has become my new active on the 27th Jan. I waited for the signal candle to be generated, entered a short position at 1.4046. I expect the Euro to continue depreciate and the trend to continue to plunge to 1.3846. What I did not expect is the pull back at 1.3851 (which was 6 pips away from my T/P), thus, a channel was form with the lower low and the pullback stopped exactly at 1.4025 ,without breaking through the channel. Backed with the hidden divergence, the trend will be happily heading south for another week or two.

Jason Ong

4th Feb 2010

Happy Boy=]
1:22 AM