Looking for a Bounce in the Eur/Usd

The dollar has rallied over the past week as the risk trade was clearly taken off the table.  Equities finally worked off their Overbought levels and so did the non-dollar currencies.  Today's action in the Eur/Usd was particularly appealing and I took a small position in the pair this morning.  Here's a Daily, Hourly and 15 Minute chart:

As you can see, the pair is in oversold territory on the stochastics and the v-stop on the hourly has flipped to a buy.  What I really like about the pair right now is the bullish swing low (higher high and higher low after the sell off) that occurred right at the 50 day moving average.  I drew a couple of lines above the price action (and forgot to mark them..oops).  These lines are my price targets.  I will trail my stops up to the targets using the V-Stop on the hourly chart. 

Notice that I'm booking partial profits early and using the hourly to trail stops...this is  because the market has been choppy lately and to make money, you really need to be nimble.  I've been adjusting my expectations on each trade that I place because this market can turn on a dime and when it turns, it moves quickly. 

Hope everyone's having a great week so far.

TLT

A New Short Squeeze: PFE

I'm back from my short vacation and there is quite a bit of interesting market action to digest.  One notable event is the massive break out in Pfizer (PFE).  PFE has been a great short for most of spring and summer but it has recently shown some signs of improving price action.  Then PFE released earnings on Tuesday and there's been no looking back so far.  Check out the daily chart:

As you can see, there was a big gap up and then follow through strength.  It has the look of a good old fashioned short squeeze...somewhat reminiscent of MON, another recent short squeeze that has had follow through.  As always, both time and price will tell.

TLT