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[popoola]

Hi FxSignal

Thanks for looking into the thread. I expect a small (but tradable) dip in the usdchf. on the daily chart it found support on the 200sma and bounced. At the time it found support the stochastics was way oversold and therefore a rebound was in order.

I said a small dip because it is overbought on the 4hourly and a 4hr chart is not a noisy chart we should see a pullback and then take off againthere is resistance in the 1500 area because of the confluence of the 100sma and 50sma etc. Eventually we will be going towards 1700 if not beyond. The stoch on the daily chart is just turning up from oversold so any pullbacks caqn be bought looking for higher prices in the future

In summary: usdchf should move up possibly after a small setback.

[FxSignal]

thanx for ur advise

[popoola]

The usdchf again. The main trend is up but it has moved up too fast. I have a chart showing

a hit of the upper bollinger band on the 4hr
a hammer at the top of a strong(ish) move
an over bought stochastics

Are we going down? I think we might be going down and selling the break below might be the safest thing to do. If it continues up then no loss to us but if it breaks down we might get a short sharp and sweet move down.

The factors against this trade are
an oversold and turning up reading on the daily chart
the stock market being down again making the dollar a safe haven currency hence the upmove in the usdchf
volatility in the markets making the need for wider stops hence more risk

it might be better for someone to just wait for the end of the pullback and buy then. At least you will be working with the trend...

[popoola]

Sorry wrong chart...

The dow futures is still falling now making this trade riskier

[popoola]

trade invalidated. usdchf has broken out to the upside

[popoola]

sold the usdchf @1.1519 witha tight stop. Despite the above post. inverted hammer on the hourly, overbought - a possible setback in price. We need a pickup in the dow to help though

[FxSignal]

Thanx mate, i make 25 pip for selling uc

[popoola]

Funny FxSignal my stop was too tight and I was blown out for -30pips. We live to fight another day

March: 81+100-71+11+27+5+41+15-20-20+72-30=211pips

[popoola]

Weak H&S in the usdchf 1Hr chart. Stochastics turned down. Dow futures up. Target for the H&S if it breaks is 1.1400 area. As it is the one hourly chart you might need to babysit the trade if it happens...

[popoola]

Sold the usdchf @1.1505 stop @1.1545 by limit order. Pre-empted the H&S. It seems to be playing out as wee speak. Dow futures have fallen back though. Daily pivot is @1420

[popoola]

Closed out @ 1467 for a 38 pips profit. Market is bouncing up from the 1.1444 level. Will watch for a break thru there if the stock markets rally
if nothing that might be it for the week and march

March: 81+100-71+11+27+5+41+15-20-20+72-30+38=249pips

[popoola]

Managed to have a peek at prices at work only to find that I missed out most of the move

We have been waiting and baiting this turn only to miss most of it.

2 consolations

I was right in the direction and booked some pips

Also we can now realign with the main trend at a better price

Lastly I thought today was friday and there for closed the books for the week in my last post. Indeed march books are closed bit April starts tomorrow so if there is anything good I will trade it and let you know about it

[popoola]

The usdchf has fallen 50% off its rally and has bounced off the 50% fibs on the 4hourly.
I am especting that price will turn not more than the 61.8 Fib according to fib swing traders.

It is also getting oversold on the hourlies

[FxSignal]

thanx mate, whats ur advise for uc and eu right now?

[popoola]

Everyone welcome to April trading. Wish you l(and I) lots of pips.

First observation NZDUSD

A head and shoulder is showing on the 4hr chart. Remember the stoch on the daily is overbought and turning down. Now the stoch on the 4hr is overbought and turning down. 2 stoch readings are in agreement. Also the stock market is rolling over too. We have to be careful though the neck line must break before entry...