If you have been following this blog, you will understand what the above chart is showing and the direction of the market you should be looking out for on this pair (USDCHF). Price keeps bouncing off the slope of the higher highs and higher lows.
CHANNEL PATTERN ON USDCHF
If you have been following this blog, you will understand what the above chart is showing and the direction of the market you should be looking out for on this pair (USDCHF). Price keeps bouncing off the slope of the higher highs and higher lows.
ANOTHER CHANNEL PATTERN FORMED
Some days ago I explained a trading technique (channel) which when properly drawn can generate a reasonable number of pips. Above is a chart of GBPUSD, notice when price broke the down channel it fell for more down 100 pips. Though further explanation of this technique was explained in the link attached to the post (BREAKOUT).
EFFECT OF THE DEVALUATION OF YUAN
This week we saw The People's Bank of China (PBOC) devalue the Yuan for Tuesday's trading that was 1.9 percent below Monday's level, and the biggest one-day change in a decade, which lead to the decline of the Yuan to 1.3 percent just after the start of trading. For the past three consecutive days the Yuan has been dropping in value.
ALL EYES ON GOLD
Best of luck. Thank me when you done making pips.
Subscribe to:
Comments (Atom)