USDCHF Comment
Sonicers,
First off, what follows is not an analysis. It is a plea for caution! And is posted only as an example of how we can best prepare ourselves for a new week, no matter what pair or pairs we might be trading.
The H1 chart shows a down trend. However, Friday ended with a higher low, and with the most notable volume occurring at the very lows. That might or might not be stopping volume. When the new week starts off anything can happen including not much of anything, as is sometimes the case for the first 36-60 hours of a new week. Ranging could be the fare for awhile. When price does start to show direction (other than sideways) it could proceed lower, or it could start back higher.
The H1 chart shows the price reach the 0.8900 LEVEL, actually overshooting it, bouncing back up and down a couple of times, and ending at the 3/4 LEVEL. So, the question is (as always) what will be the significant next move? Of course, no one knows (except maybe the Market Makers, because they're the price pushers), but price could consolidate (a term used when price goes stagnant, while everything but stagnation is happening in the background; hidden position building by the MMs). And then price could go either way.
What should we do? Simple. Stay focused for the appearance of a proper Classic setup. If we get one, we trade it. We trade it whether it matches or doesn't match our bias, but we trade it with a watchful eye because at any time price direction can change. That is the indisputable fact of life in the market. Do not think this has to go down because the trend shows down. Do not think this looks like a "W" forming and that therefore the sneaky MMs are going to push it back up. Just stay focused for the appearance of a proper Classic setup, and if we get one then we trade it, but with a watchful eye.
As Master Sonicdeejay reminds, "Trade what the market gives, but watch like a hawk!", which is great advice for any pair you trade, any day of the week.
-tah
Sonicers,
First off, what follows is not an analysis. It is a plea for caution! And is posted only as an example of how we can best prepare ourselves for a new week, no matter what pair or pairs we might be trading.
The H1 chart shows a down trend. However, Friday ended with a higher low, and with the most notable volume occurring at the very lows. That might or might not be stopping volume. When the new week starts off anything can happen including not much of anything, as is sometimes the case for the first 36-60 hours of a new week. Ranging could be the fare for awhile. When price does start to show direction (other than sideways) it could proceed lower, or it could start back higher.
The H1 chart shows the price reach the 0.8900 LEVEL, actually overshooting it, bouncing back up and down a couple of times, and ending at the 3/4 LEVEL. So, the question is (as always) what will be the significant next move? Of course, no one knows (except maybe the Market Makers, because they're the price pushers), but price could consolidate (a term used when price goes stagnant, while everything but stagnation is happening in the background; hidden position building by the MMs). And then price could go either way.
What should we do? Simple. Stay focused for the appearance of a proper Classic setup. If we get one, we trade it. We trade it whether it matches or doesn't match our bias, but we trade it with a watchful eye because at any time price direction can change. That is the indisputable fact of life in the market. Do not think this has to go down because the trend shows down. Do not think this looks like a "W" forming and that therefore the sneaky MMs are going to push it back up. Just stay focused for the appearance of a proper Classic setup, and if we get one then we trade it, but with a watchful eye.
As Master Sonicdeejay reminds, "Trade what the market gives, but watch like a hawk!", which is great advice for any pair you trade, any day of the week.
-tah
{image}
Let's see if the news bring pain or gain 
-tah
