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Thursday, February 14, 2008

USDCHF Updates (14 Feb 08)



Happy Valentine's Day to one and all! For those who are single and looking for a partner, you have my blessings. For those who are attached, take a break from trading and enjoy your time with your loved one. For those who are single and not looking to be attached.... Trade on! haha.

Alright, my main PC has actually crashed today, so I'm actually pretty handicapped since most of my software etc are all there! So I can't really post any charts for the time being.

But a word of caution again for the USDCHF. The movement after the previous five wave up is, in my opinion, undoubtedly a corrective pattern. It has in-fact taken out the high at the wave five, which means that its unlikely for us to see a strong impluse wave downwards for the time being. There is also a MACD Divergence at the 4-hourly chart, so you can consider trading shorter timeframes based on that. For Elliott Wave Perspective, I'll keep out of the market for abit until I see a more readable wavecount.

Well, good luck and take care out there!