NZD/USD 25 JUNE 2012

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Price gave us a 382 bounce on Friday, testing the BF786 during the Asian session.

FOR TODAY:

We will look for bullish cs formations since price already tested the BF during the Asian session.

Short trades are considered if we get failure at Friday’s high, or higher up at the 618/786 of this swing.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need a failure at Fridays highs for a short entry, else higher up at the 618/786 of this swing.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

A bullish cs formation from current levels or while inside 7846 will initiate a long trade setup. Limits here will be 60-70 pips since it’s a shallow bounce, Stops will be 10 pips below the cs formation.

If we don’t get the setup we are looking for then we don’t trade.