ECH11 – March Euro (Last:1.3643)

March Euro (ECH11) price chart with targetsTwo patterns nicely visible on the 30-minute chart — one small, the other large — project to rally targets at, respectively, 1.3674 and 1.3789.  A bullish bias is suggested as the futures work their way toward these numbers, but either can be shorted with a stop-loss as tight as six ticks. ______ UPDATE (12:51 p.m. EST): The upthrust we were expecting carried to 1.3680 before settling back, but longs had plenty of time to implement a trailing stop to protect gains. Shorts from the target would be ahead at the moment if they used a stop-loss of seven ticks or more, since the high occurred exactly six ticks above the pivot.