US DOLLAR 1 AUGUST 2012

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We have a new B low on this chart.

FOR TODAY:

Price gave us a new B low and pulled back into the range. We are now looking for a retracement deeper towards the 618/786.

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 price to retrace up to the 618/786 of this swing for a short trade setup, either this current swing, or the new one if price sustains the break of the B.

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

LONG: Will be going long today only IF:

No long trade setups at present.

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