NOTE:Truths
-Traders will do the same thing over and over again.
-In trading, no one to blame and no one to question what price did.
-Price can break any low/High because anything can happen.
If you fully allign your thinking in line with the truth about the market then you will win.
So, the Swiss Franc is generally used as a reserve currency. Something different from The Reserve Currency, but similiar. During times of high volatility investors look to throw their money in safe haven currencies like the Swiss to protect from the wild whipsaws of the market.
So, here on the swiss there are no Harmonic Patterns to speak of so the COT data will...
Each week, the Commodity Futures Trading Commission (CFTC) publishes a report known as the Commitment of Traders (COT). In this report, information on long and short positions held by three groups of traders can be found. (Commercial Hedgers, Large Speculators, and Non-Reprtables).
Commercial Hedgers, more commonly known as ‘Smart Money’ Hedgers
Large...
if he breaks the 104.9 level it will go to the 107.1 level
OR if he goes down and breaks the 101.1 level it will go to 99.9 level
Still, RSI there are not buying or selling saturation
BETWEEN THE 101.8 & 104.4 IT MAY GO IN HORIZONTAL WAY
ALSO, THERE ARE NOT IMPORTANT NEWS ON CHF
The Swiss Franc index is in a descending triangle scince 2011 and it is already breaking the symmetrical triangle and it is time to climb but we are waiting for a break of point 107.8 in order for the real rise and departure to start the targets shown on the chart. The downtrend since 2011 has waited for the highlighted points to break and not to rush.
