Sunday 9 May 2010

Update on the $ CHF setup to follow.................


OK....the reason for the angry face is the market has (as i expected) opened up much lower but we may still get a retouch on the 1hr TF on the trigger line BUT my broker FX Pro & FXCM doesn't open for another 50 mins. More/update to come. I am also very worried about USD vs JPY which looks very week after Fridays massive drop...so there may be a large USD correction underway.
Here is the first two hours of the Asian session. The Euro has gapped up and i think we may see price fill the gap so there will be planty of time (hopefully) to go to bed and then get short in the London/Euro trading session tomorrow/Monday.










11:07 pm iam long Usd/CHF looking for a bounce back to to the trigger line area to close the gap where i expect to go short in the Euro/UK session.10pt stop.

And heres what i am worried about with US$ vs JPY... we have compromised the long term LMLP of the rally since late 2009 & have not reached the obvious CL...it doesn't bode well.
PS: The thin red fork is a reverse ML set re Andrews ( see the re-touch!)

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