Mid week update

Good Evening Dynamic Traders

The GBPCHF chart mentioned on Monday has had a bearish few days - it's yet to give us the all important BOB though. Aggressive traders may have jumped on the candlestick confluence from Monday, but I'm still waiting patiently on this one.

My AUDCHF mobo trade was triggered last week, but went into negative territory immediately. This week it's gaining strength to the upside and making it's way towards my T1. A major RN is looming above, so if in this trade manage your stop accordingly.

Below is the GBPNZD daily chart. It may not be everyone's favourite currency as it's fast moving and a fairly volatile currency. As you can see it's presenting an opportunity to short.

















After a big move down in 2009, price has since been in a 5 month consolidation. So far today price is presenting a possible BOB. There are various confluences to suggest price could weaken. It maybe a little premature to enter based on this BOB as FBO's are likely after a long range, but it all depends on your own trading style. Some may play it safe and wait for a breather and then another BOB. In any case ESLT is an essential tool to use here.

As always please carry out your own analysis.

Great trading!
Sonia Molina