60 is the Macro Pivot for Brazil.

Dilma has been actively devaluing the Real, which will help on the export front.

You have a potential double bottom on the Weekly & Monthly chart, so you know exactly where you are wrong.

In Fib land, 60 is also half way back for the past 2 years..

We are going to start a Long Position today, however we are NOT going to go 100% long. We want to be able to buy some tomorrow if we see weakness against 60 with a tight stop.

We’ll pay for our stop around 61.80. That means at this level the risk is as much as the first profit level, hence only a nibble!

Anyway you cut it, I’m trading the pattern…