This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
This is a prior chart I posted (a few weeks old). USDCHF has continued to hold the support. This may be the breakout coming here (or it is just wrong). Analysis hasn't changed so I didn't recopy the chart:http://i1240.photobucket.com/albums/gg500/SoulJester786/Target_Box_zpscaa3d838.png
thanks....I forget what was the intervention level the Swiss central bank was defending ?
It is a triple bottom on the daily above the anticipated support btw. Will be a monster.
Pegged to euro. It is a triple bottom on daily at the anticipated quarterly breakout. It will be a monster. IMHO.
This is also the turn down time frame on the bearish scenario after the 1905 bounce. We have broken above the fib support and the 50 dma. I won't think about this bearish scenario until support breaks (1940ish) and am treating it as bullish until that happens...but this is the failure level from a time frame perspective anyway....Prior chart:http://i1240.photobucket.com/albums/gg500/SoulJester786/IDIOTS_zps9f053304.png
Here is what the bullish scenario looks like. Bounce off the 1905 support a cycle low. We have broken the middle of the chart (50 dma)...so, until that breaks down this is the measured move target....http://i1240.photobucket.com/albums/gg500/SoulJester786/Bullish_Scenario_zps347b2ae8.pngSticking with this until the market tells me that it has the bearish scenario in mind....