Reply To: Technical Index Trading & Analysis

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#3389
RS2OOO
Keymaster

Looking back at the GBP:CHF swing short I was eyeing up recently, price broke up from the range (essentially invalidating the short set-up), then reversed and broke the previous range to the downside (re-validating the short set-up), and has now rallied again back above the range (essentially stopping out anyone who traded it based on the same criteria I was looking at).

It might not be a bad thing though because price is now close to the previous swing high allowing for tight stop placement on any subsequent short.

Depending on how it goes over the next couple of days I may consider a short with stops on a Daily close above 1.4711 being mindful of the Daily 200 MA just above that level that may well be tagged before further selling offering a good entry point.