usd chf update basis on the recent price action

I have continously mentioned in my posts that we should look to find out "context" which is highly important in deciding the faith of a trader and the next predicted Move .

This type of trading give you an edge over other "mechanical systems" where the focus is totally shifted on any predetermined indicator's value.

The reason I have mentioned before putting an update is because pattern was repeated in "sterling" chart, I mentioned last time I update the blog. Sign of "strength" is always when we see "accumulation" at the lows and then we saw breakouts followed by protected levels.

but when we see continuous highs and and Price holding higher prices, the it is totally could be the case of "accumulation" on the moving markets and Friday we have seen buying at low levels as well.

Update of franc chart tells us another move could be strong

I have mentioned all the important factors in this chart, which could lead to strong moves and I have not mentioned any support because there is not a sign of strong liquiation and that is in itself a sign of extreme strength, but one should not see panic in the mind of traders otherwise that imbalance that has been created would disappear,

Little update on the chart as I discuss earlier , recent activity does tell us that price is still moving in the accumulation period and any strong selling here and momentum arrives again then we should fade that liquidation.

Check the update chart !

does candlesticks pattern is the only way to locate trades

Here, I would really feel sorry for those who look to relying on base candlesticks patterns to find trade location (even though they have importance but overall context is necessary).

Sometime we try trading those patterns with small stops in rangebound or trending markets but they have least importance while price is ranges.

There are two type of basic rules in trading when you trade and one of them is breakout and other one is fading the breakout and candlesticks patterns plays an important role which breakouts are there to trade and which one are to fade out.

Candlesticks charts are least important pattern in trend recognition

I have post a chart of pound where I have discussed all the important factor to how to trade a reversal . There are few points I have clear that even though prior accumulation and strength of trend was immense but it takes a day to reversal to happen and that is what we all needed to look out for such patterns for an Intraday trade.

We have few basic bullish engulfing patterns, one at the top of the chart and other one happened just today followed by strong selling.

Just take a look at the chart below !

Price can advertise higher without even testing the shift in value

I will discuss today how you can spot value in different cases, specially when we see strong breakout and price consolidates (accumulates) before. The important point to note is even price can still hold higher prices after values shifts and without revisiting the area

And when price revisits the area it can easily go beyond that location and create a false trap and start building the new accumulation area and then we see rapid moves to the direction it break out earlier.

spotting value is not easy for Intraday setups

It is not easy to spot any change in value but when we see some breakouts and price start building and spent most of the daily (80%) of daily activity at higher prices after change in vlaue and hold higher prices, then we need start thinking of the next step that strong or weak holders take, because if that breakout is done by weak holders than it will start liquidation immediately but if it the smart money who is making moves they will start building their position at value areas

Usdchf Update as discussed earlier on !

I have continously mentioned in my posts that we should look to find out "context" which is highly important in deciding the faith of a trader and the next predicted Move .

This type of trading give you an edge over other "mechanical systems" where the focus is totally shifted on any predetermined indicator's value.

The reason I have mentioned before putting an update is because pattern was repeated in "sterling" chart, I mentioned last time I update the blog. Sign of "strength" is always when we see "accumulation" at the lows and then we saw breakouts followed by protected levels.

but when we see continuous highs and and Price holding higher prices, the it is totally could be the case of "accumulation" on the moving markets and Friday we have seen buying at low levels as well.

Update of franc chart tells us another move could be strong

I have mentioned all the important factors in this chart, which could lead to strong moves and I have not mentioned any support because there is not a sign of strong liquiation and that is in itself a sign of extreme strength, but one should not see panic in the mind of traders otherwise that imbalance that has been created would disappear,

Little update on the chart as I discuss earlier , recent activity does tell us that price is still moving in the accumulation period and any strong selling here and momentum arrives again then we should fade that liquidation.

Check the update chart !

Comparison between two charts for Best of trade location

Here I would like to mention not only about how patterns repeat (not chart or any other technical patterns)

But real trade location which advertises trading opportunity specially in forex when demand overcome supply and vice-versa.

Take a look at the Chart of Great Britain Pound

I will update the usd/chf chart later on the day. Possible trade scenario for the next and if it goes right we can book some good profits

Nice weekend and Happy Memorial Day in Advance to all my followers