The US Dollar against the Swiss Franc has been in a down trend for most of this year so far. For most traders, this has presented quite a few opportunities to trade this particular Credit3 pair.
However, the key to being able to trade this pair on the smaller time-frames is solely dependent upon the trader being acutely aware of what is happening on the longer time-frames.
Since we are in a downward spiral with this Credit3 pair on the long-term, it is a safe bet to assume that the short-term opportunities that arise to take short trades (these are trades where the trader is looking for the price to decrease) should be taken.
Now it's time to focus in on what occurred during the day on 17th February 2011. This for those traders who are either inclined to trade the intraday time frames or those who are just interested in seeing how this particular Credit3 performed on this specific day. Most professional traders opt against Credit4 such time frames but those who are using mechanical systems or just have the discipline for following the price against the noise of the Market may still trade here.
So for most of the London session, we had this particular Credit3 pair in a tight range of around 30 pips from high to low. This is not a problem for the scalpers but for those who like to stay in trades for a bit longer, the correct opportunity to trade came just after midday when the price broke to the downside of the short range.
For those who apply money Counseling5 techniques, this appeared to be a viable trade and indeed it did provide some profit. However, the cautious trader will have noticed that there was important fundamental news being released only a short while later and although this seldom affects the overall trend, it will be enough to take out those traders that did not have their eye on the news.
Indeed, the news caused a spike to the upside of the range but this was short-lived and the trend continued it's merciless move to the downside giving new low prices for the day and also for the week.
However it is only a matter of time before it reaches the lowest point that this Credit3 pair has been at over the past twenty years and it will take a brave trader to take a short position at that time.
The US Dollar against the Swiss Franc has been in a down trend for most of this year so far. For most traders, this has presented quite a few opportunities to trade this particular Credit3 pair.
However, the key to being able to trade this pair on the smaller time-frames is solely dependent upon the trader being acutely aware of what is happening on the longer time-frames.
Since we are in a downward spiral with this Credit3 pair on the long-term, it is a safe bet to assume that the short-term opportunities that arise to take short trades (these are trades where the trader is looking for the price to decrease) should be taken.
Now it's time to focus in on what occurred during the day on 17th February 2011. This for those traders who are either inclined to trade the intraday time frames or those who are just interested in seeing how this particular Credit3 performed on this specific day. Most professional traders opt against Credit4 such time frames but those who are using mechanical systems or just have the discipline for following the price against the noise of the Market may still trade here.
So for most of the London session, we had this particular Credit3 pair in a tight range of around 30 pips from high to low. This is not a problem for the scalpers but for those who like to stay in trades for a bit longer, the correct opportunity to trade came just after midday when the price broke to the downside of the short range.
For those who apply money Counseling5 techniques, this appeared to be a viable trade and indeed it did provide some profit. However, the cautious trader will have noticed that there was important fundamental news being released only a short while later and although this seldom affects the overall trend, it will be enough to take out those traders that did not have their eye on the news.
Indeed, the news caused a spike to the upside of the range but this was short-lived and the trend continued it's merciless move to the downside giving new low prices for the day and also for the week.
However it is only a matter of time before it reaches the lowest point that this Credit3 pair has been at over the past twenty years and it will take a brave trader to take a short position at that time.
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