Near Term Trend: Negative
Friday’s Close: 0.74343 (+ 31 pips)
UPDATE: Two weeks ago, we reported, “As of Friday’s Price action (Nov 11), the support line of the wedge has been slightly violated. Aggressive traders could go short at this juncture, but I would risk very little- less than 75 pips”.
If you took our advice, you went short near the 0.74400 region and had been sitting on a decent profit. Entering this past week, we suggested lower the buy stop to 0.74120.
If you followed our advice, you booked a small profit on Friday of $280.