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Such a Pretty Setup

Thursday, March 20, 2008

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Just a quick update on earlier post the trade plan was violated so no trade was taken on USDCHF. It was looking good enough where the lower trend line is respected by price but there was no breakout to the downside, instead price show strength to go up thus no entry was taken. Anyhow I like the way former support now acting as resistance, coloured as orange in chart below.

Tomorrow is holiday for all market "Good Friday", I won't be expecting to take any trade tomorrow. The volume in the market is too thin and I don't likely to enter market on this condition.

Have a nice weekend everyone and see you on next post.

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