Friday 21 May 2010

A big day for $ Swiss......


This may look a mess BUT it shows all active ML's and more importantly reaction lines ( dark red/claret). I am bearish of the USD vs CHF after a recent rapid rise. Price action has petered out on the upside and we have a series of diminishing tops with lower lows but price has been stuck in a sideways range for the last few days. I believe we will see a rapid downward movement towards the 1.14 level. I have a trade sellstop entry based on a retouch on the most recent RL and used stochs/B-Line stochs and Macd to tune the entry. Here are the charts as of 5 mins ago









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