4Hour
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–The line that extends off of the 2012 and February lows was broken last week. The underside of this level was resistance on Friday.
-Levels to pay attention to if the floor opens up…the 2012 low at .8930, 38.2% of the rally from 2011 low at .8862, and the October 2011 low at .8567.
-Exceeding .9080 would confirm a short term low and target a measured move to .9196.
Trading Strategy: Price is vulnerable below .9080. Above there would shift focus to .9145-.9214.
LEVELS: .8862 .8930 .8993 | .9080 .9145 .9175