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USD Still Weakening?

Thursday, March 20, 2008

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I doubt my ears as I've heard fellow trader expecting the US Dollar to gain strength within this two weeks. I don't think that it would matter much for him with his naked scalping technique. I barely see any connection from the economic calendar to his technique except for avoiding high-impact news.

Ok, today I found a beautiful setup in USDCHF with it nice down-trend and price is within Dynamic Area forming a nice triangle pattern.

What worries me is that today is Tokyo holiday and I will wait for London session to further see how price act and tomorrow is friday-holiday before the weekend. I don't think there would be enough volume to support this plan. Nevertheless it would be great to reduce my lot size.



I will only trade the breakout of this triangle to the downside and no other.

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