Once price made it's last push to the upside, it made the bearish impulse as expected. I was looking for price to make one last bullish impulse, then create a bearish candlestick formation before entering a sell. Check out the previous analysis below:
Price appeared to have broken the low during the previous month. This monthly candle appears to be a retracement or a retest of that level. So far it a look as if price will respect that level and may be signaling it's setting up to make a large push to the downside.
The weekly time frame show a double top, with a retest to the neckline, price also met...
There are two strategies to short this:
sell cypher pattern @114.496
sell via 2618 short entry at the 61.8 retracement. Also one could short a bit higher for better R/R. Those two strategies can also be nicely combined with taking normal initial targets for the cypher pattern and taking secondary targets 2618-trade style at the very lows.
We had an inside bar last week and broke out to the upside on Monday, only to get rejected. Today we have seen the break of the opposite of last week's inside candle. Now a strong move to the downside can be expected - I suggest targets around structure at 112 or the 38.2 fib retracement. Aggressive traders could even look for previous highs from July at 109 as...
SNB President T. Jordan comment highlights:
- If Needed, Can Cut Rates Further - 50bps to 1.25% possible until negative rates turn less effective
- Big Concern Over Significantly Overvalued CHF in 2016 risk-off dominated year
- CHF 3m Libor prices 80% chance of a 25bps cut (-0.75 to -1.00%) within 3 months (was only 40% before brexit)
- Low bond yields not...