Swissy for the watchlist

Greetings Dynamic Traders!

Belated Happy Valentines Day to you all! Hope you had fun (at least for those that remembered!).

Welcome to the newest forex apprentice's starting on Monday. Hope you are ready for an exciting few months of learning from the great Joda of the markets. May the force be with you!

I have spent some time today updating my trading plan before I did my analysis. To my surprise (pleasant) I was able to cross off one improvement item which I have overcome in my trading. It is good practice to revisit and revise your trading plan as each one of us is constantly evolving and growing.

I have picked the Swissy to discuss today. Price on the Weekly chart has been at around one area for about 4 weeks now, close to the value index. It is also approaching a Fib reversal area and the last 3 candles have been doji (a candlestick expert once told me that the doji singular and plural is the same). The normal conclusion from all of this would be that the price will turn or retrace so why am I hesitating to say that?















In addition to the above, our friend MACD, on the daily timeframe is showing divergence. The reason I am going to keep this on my watchlist is because there may be a retrace before price decides to continue because it has been making higher highs and lower lows and the recent trend has been up.













Note, the US are on holiday tomorrow so markets may be slow


Good Trading
Bijal Shah


Imagination is more important than knowledge. For knowledge is limited, wheras imagination embraces the entire world, stimulating progress, giving birth to evolution.

Albert Einstein

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