10_16_14 Short move up

١٦ أكتوبر ٢٠١٤

With price pushing up against this resistance area @ 1.28, which has multiple points of resistance (psychological, .50 fib retracement from early Sept, and horizontal resistance.) There is an opportunity to enter short, with a good RR ratio (2:1). With the overall trend being down, this trade would be in the direction of that trend. Use caution once price approaches the 200 ema, and the upward trendline. Timeline for the trade is short term, although if price breaks through the 200 EMA and the upward trendline, continue to hold.