First entry, just to show you my general idea is about recent EURUSD price action. Of course everyone can be smart now as it already happen :)

Here's some picture of last month:

There is nice channel that could have been easily spotted on a daily chart, bears were in the air, however there was one "but" there was no reason for price to go down on Monday 27.04 - where vertical line is placed (or maybe there was?).

Unexpected move [20:00 on a 30M chart] brought me to thought, that the one who sold all that euros may need his money back, so today I felt strong tension to not take short anymore, but rather wait for spike. As you can see I was kept in uncertainty till beginning of American session but finally proven to be right :)

To be honest it was even better then I expected, note that 5pm on this chart was the time when US consumer confidence (nearly 10 points better than expected) was released - this move is for me reason to give up 1.29 target and stay away from market.

Hope that it's clear what am I trying to snip. Any comments or questions, just ad in comments.