Swiss Toblerone?
Posted on : 11-11-2009 | By : TradingBabe | In : Potential Trade Set up's - Gold Membership
0
Hi Everyone,
All pairs seem to be in a holding pattern – consolidating – this is good news for breakout traders!
Looking at the USDCHF, the pair dropped a bit this morning and is now making a descending triangle on the mid point between the S1 and S2 daily pivots (dashed grey line).
Everything still points to this being a short trade – all the RMO indicators are showing “sell” signals, MACD is below the line and all the moving averages are aligned.
If you switch onto a higher time frame (4 hour) you will notice there is a pocket of support at this current area with the absolute low at 1.0319.
Powered by MetaStock - Trading Babe - USDCHF 15 min chart
Please remember to do your own analysis.
Regards,
TB
GHTime Code(s): 71a79 c2104
