EURUSD 7/4/06 at 0137EST going short

I plan to sell the resistance at M3.

The picture here is a 15M chart. The 1h and 4h charts have negative divergences and is looking bearish (I am not showing the 1H or the 4H).

If the neg. divergences on the 4H and 1H pan out, the M3 should be a logical resistance to sell. The key here is to use a very tight stop. If the pair breaks 1.2822 (previous swing high made by the spinning top), then I will take myself out of the trade.