EUR/USD 5/30/10 Looking For Shorts

Update: Due to technical problems I was not able to post this trade on the blog. I was able email this post this week and this trade was emailed at 6:33PM EST on 5/30/10

Update: 6/1/10 Took Profit 130 pips

Cashmechanics.comtm

Play of the Week

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EUR/USD – To rangebound with bias skewed lower

Momentum bias – looking for shorts at 1.2313.

Play of the Week:

I am looking to go short at: 1.2313 area.
If filled, my protective stop is 1.2403
My profit target is 1.2183
Risk = 90 pips Reward = 130 pips

(disclaimer: this trade is for educational purposes only and is NOT in any way trading advice. There is extremely high risk in currency trading. Please consult your financial professional before considering this type of risk)

Best regards,
Pat Arcadipane
Chief Executive Manager
Cashmechanics.com

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