Swiss Time

Good Morning Dynamic Traders

We are already half way through the week, time is flying by!!

This week I have decided to follow the CHF, and to see what joys it brings us this week!

Today I will go through an overall look at the CHF so that we can get an idea of what has been happening. Then over the next couple of days we can then start to rip apart the CHF to see where we should have been standing to catch potential profits.

In the day chart below you can see that price suffered a severe drop and has been struggling to climb back up. While price was fighting to increase you will see that the MACD was showing signs of divergence (marked accordingly on the chart below), meaning that a reversal was on the way!!

Price did indeed drop, rather abruptly I might add, but this time price found a support net in the way of the Value Index and a RN. Those of you with a keen eye would also have noticed a Fib Breather level at the same area. Since then price has been using the value Index as a support line.

Tomorrow I will go through the behaviour of the CHF in more detail!!

Happy Trading

Richard Monnery