LONG THIS PAIR AFTER TRAPPING THE SELLERS also 5 min kill was visible
i took the shorts after observing a shallow pullback from the last push downwards the trend favours the seller and the rubber band man has completely given up so clear skies
the chf group has been generally weak and has slihtly rested or ranged with little pullbacks and has recently broken some sessions looking more likely to continue North
going long after the the end of the pullback came to an end the v formation was tested and held
trade preview from Wednesday pre-interest rate this was a general idea based on usd strength prior to the interest rate decision .
usd gained some strenght in the past few sessions starting from last week thursday this along with some weakness on the #GBP Crosses has made this a no brainer going with correlation i took this @ 7:34 am wed awaiting further details
i am taking this longs as ab grade trade this idea is based on the weakness of the yen pairs along with the current strengths generated by the USD
with chf showing weaknesses across board i prefer going long
the early break of london and asian session on the open of new york has provided a setup with the oil news in view going bullish seems a no brainer
with prices broken the London's lows like it did to Asia's lows i am looking forward to another attempt to go lower
with a confirmed head and shoulders pattern occuring on the daily, i seriously anticipate shorting it on lower timeframes e.g 4h,1h
from the visible structure it appears that a price boundary with each time price hits both levels it swings right back!