I know a number of our experienced members have already scaled some in one this one but theres no hurry for the ones who need some guidance. Rome was not built in a day so steadily we will navigate the chart and try to manage a really good entry to get our pips.
This is starting to look really good now for a solid trade.
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If the EUR.USD currency pair goes down, then the USD.CHF pair will go up, and visa versa.
The Euro looks to be in a sideways chop within in a bear flag, while the Swissy seems to give a clearer signal on the Ichimoku chart. Look at the last 4 daily candles, the Japansese call candles similar to these with long shadows either end
Looks like SNB may have stepped in last night with a little intervention as I mentioned being a possibility in my closing broadcast………. “Take care with #20 scalp because I believe the SNBank started to intervene around the .9960 level last time it entered that area.” I see the low was .9959-.9962 area, so maximum overnight pip profit was circa +40 pips. The current H4 chart shows a test and fail of the small trendline, so we await the mood of the market today to see if they try to give it another push lower.
I had to get in a little earlier because I was going to be out of the office for a couple of hours, and I have now just taken some profits at +20. The market is very lack lustre, so I like to grab something when its there as we are only scalping /day trading and a profit is a profit.
For active day traders/scalpers.
Some potential for a break of the small trend line after an Evening Star formation (not quite finished yet) against the
