Swissy

Afternoon Dynamic Traders

The Swissy was also on my watchlist, as mentioned in Bijal's blog. Since breaking the VI price has been staying close to it and yesterday's candle also tagged previous R as S, giving the SM trader an additional confluence to place a long trade. ST has formed another false bar on top so odds are stacking up nicely. ESLT on the recent high should provide an additional protective layer should there be any market remorse.














There is adequate breathing space for price as the next R cluster is at 1,1000, providing a healthy 400 pip opportunity. Stops shouldn't be too tight, as price has just broken above the VI so there's always the possibility of a bull-bear struggle at least until the bulls are running!

As always please carry out your own analysis. Remember, it's NFP tomorrow so markets may make some unusual moves.

Great trading!
Sonia Molina