hmmm, you could even do swing trades like that as well. For example, today eur/usd hit the ma7.p4 on the 1 hour chart at 1.2714-15 at around 9 a.m. eastern time(I am in the US now). I looked at GBP/USD and USD/CHF, they were just breaking lo2.p2, lo2.p3, lo2.p4, and hi2.p2, hi2.p3, hi2.p4 respectively. I thought, that's it, there will be at least 25-35 pips retracement on all three currency pairs. I went out, came back a few hours later and there we go...I was right...I didn't trade because that is not how I play the game, but it is just food for thought.