USD / CHF - Trading at Long Term Support Area
No trading idea ... yet. But wait.
In ranging markets like this one, trading between 0.85 & 1.00, since the end of 2011, the bias is to look for short opportunities when the price is trading against the long term resistance area and conversely, to look for long opportunities when the price is trading close to the long term support area.
Is an idoneous trigger already being displayed in this market, in favor of the reversal thesis?
No, that minor bullish hammer candlestick is promising but still too weak. Further, we've witnessed no break of structure in the lower time frame.
Meaning that for the time being, all that's left to do in this market, at least for the slow time frame traders is to be on the lookout for that trigger
Cheers,
Tenacious Tribe - Back Tested Trading Strategies & Studies
50% discount on all of our products with the following code:
MOX Q3C WXRX
In ranging markets like this one, trading between 0.85 & 1.00, since the end of 2011, the bias is to look for short opportunities when the price is trading against the long term resistance area and conversely, to look for long opportunities when the price is trading close to the long term support area.
Is an idoneous trigger already being displayed in this market, in favor of the reversal thesis?
No, that minor bullish hammer candlestick is promising but still too weak. Further, we've witnessed no break of structure in the lower time frame.
Meaning that for the time being, all that's left to do in this market, at least for the slow time frame traders is to be on the lookout for that trigger
Cheers,
Tenacious Tribe - Back Tested Trading Strategies & Studies
50% discount on all of our products with the following code:
MOX Q3C WXRX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.