A Swissy Spring
Good Evening Dynamic Traders!
This is certainly proving to be a challenging trading week, with price intent on security after last weeks soaring volatility.
The Swissy has been part of this agitation donating a buoyant display over the last eight weeks.
Price had been consistently falling since 2000, temporarily ending its descent in March last year after which we witnessed an incline for most of 2008.
December disclosed a sharp downturn, followed by the expected dollar strength this month.
Below is the daily chart for the USD CHF
Last week concluded with a signature gravestone doji, at a round number, indicating yet another "spring" in the trend.
This week has thus far confirmed the movement, confluenced with an overbought signal on our unique sub chart study.
Our very own mac d is also saluting the signal.
For those who are very familiar with Advanced Get, may recall the "Type 1" strategy.
The regression trend channel is consenting nicely together with the oscillator study.
USDCHF daily chart Advanced Get
The four hour chart below exhibits price sealing itself into a wedge formation, with resistance dominating at a trend line and figure cluster.
You may wish to keep a guard on this pair by utilising your remaining "tools of the trade" and await a definitive directive.
Be sure to call in your ESLT and risk management rules before bouncing in!
USDCHF 4 hour chart Advanced Get
This is certainly proving to be a challenging trading week, with price intent on security after last weeks soaring volatility.
The Swissy has been part of this agitation donating a buoyant display over the last eight weeks.
Price had been consistently falling since 2000, temporarily ending its descent in March last year after which we witnessed an incline for most of 2008.
December disclosed a sharp downturn, followed by the expected dollar strength this month.
Below is the daily chart for the USD CHF
Last week concluded with a signature gravestone doji, at a round number, indicating yet another "spring" in the trend.
This week has thus far confirmed the movement, confluenced with an overbought signal on our unique sub chart study.
Our very own mac d is also saluting the signal.
For those who are very familiar with Advanced Get, may recall the "Type 1" strategy.
The regression trend channel is consenting nicely together with the oscillator study.
USDCHF daily chart Advanced Get
The four hour chart below exhibits price sealing itself into a wedge formation, with resistance dominating at a trend line and figure cluster.
You may wish to keep a guard on this pair by utilising your remaining "tools of the trade" and await a definitive directive.
Be sure to call in your ESLT and risk management rules before bouncing in!
USDCHF 4 hour chart Advanced Get
Brave Trading!
Saba Jackson
Labels: usdchf
posted by Saba Jackson @ 6:50 PM
<< Back