Tuesday, March 26, 2013

USDCHF Price Action: Pin and Counter Trend Pin Trade Setup, 27/03/2013

 We have a very interesting setup on this pair. Lower prices were strongly rejected during trading yesterday and the most natural expectation, was for further incline however, we have a minor snag on the expected bullish run with the appearance of a counter trend pin bar at the close of trading today. The counter Pin bar could send prices rotating back into support at about 0.9436 where price action setups to rejoin the more dominant bullish momentum would be eagerly awaited.

My Recommendation: Stay neutral (sit on ur hands or go have some fun out doors)

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