I am a breakout trader and I am a range trader, which strategy I use depends on the situation. With the way I have my Bollinger Bands set up, I rarely see a touch on these, and when I do, I take the opportunity. I do have a stop here on this sell, but it is well above 1.38 which I think would be the next resistance area on EURUSD as the currency has now made a new high for 2013. I am selling at 1.3760, with the objective to be decided over the next day or so, should my stop hold. Should price reverse in the next day and start heading lower this makes for a decent swing trade setup. As a supporting factor, the RSI on EURUSD is not matching the recent strength of price action, therefore, this could be the start of a bearish divergence signal.
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