Sticking with CHF

Good Morning Dynamic Traders

Zaheer, I can’t even begin to imagine the amount pain you were in, a pulled muscle is bad enough, let alone ripping a muscle!!
After much thought and from the advice from Zaheer, I have decided to stay following the CHF this week!

On Friday price hit the trend line that forms the top line in the channel, because of how price has reacted to this trend line in past we couldn’t be blamed for thinking price would drop. So why hasn’t it?
In the 4 hour chart below you can see where price hit the trend line (channel line) and if you look to the right of the chart you will see that price is hovering around a RN, there is also a S/R line at this RN. Price seems to be determined to get stronger, but the resistant line and the RN are holding price back.














It’s now a case of waiting to see if price gets tired a then drops or whether price is able to beat this trend line, resistant line and RN.

When I started writing this update price had been getting stronger, and all of a sudden it has weakened towards the end of my update! Today is looking to be a very interesting day for the CHF. A chart that should definitely be on your watch list.

Happy Trading

Richard Monnery