Pumpkin Pie

Good day DT's,

As our friends across the pond prepare for Thanksgiving, the markets are such that we should do some giving of thanks of our own. What a great day Monday was (apart from the cold), well done to those of you that got a piece of the pie. I made close to 400 pips on the Loonie and am still in my 3rd trade, risk free and managing my position.

I have posted the EURUSD and the Swissy today. These are known as inverse currencies. The EURUSD on the weekly chart shows lots of reversal candles and then a bullish candle and MACD coming towards the 0 line.

On the daily chart the break of the trendline is apparent with a convincing bullish candle which is heading for the figure and a couple of resistance levels. The conservative trader may wait for confirmation of reversal once price has surpassed the immediate resistance levels.















The Swissy weekly chart shows a possible tram track formation (not yet confirmed). Price may find a hurdle at the 200 MA which may act as support. The swing trader may wait for price to get through this support before entering the trade.

The 240 Swissy chart shows price has broken a trendline and is heading south. MACD is following price action. Next support level has been drawn in on the chart below.

Abundant trading!

Bijal Shah

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"Your brain can hold the equivalent of twenty-five million books. The Library of Congress only holds seventeen million."
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