Monday 29 March 2010

CHF-JPY











ABOVE: E-Signal 60 min and E-Signal 5 min at 3.15 Euro/9.15am EST.
BELOW:15min












There is no doubt that price has lost energy and found resistance here on these two median lines (see earlier posts 28/Mch/2010). Personally i think that if we make a new swing low and take out 86.64 then i would look for another short position. There continues to be much bearish divergence with the RSI,CCI,MACD and stochastics in multiple timeframes but the bottom line is that this will take time to unroll. If we are in the process of a reversal than there will be plenty of downward energy to make price fall and plenty of profit providing i get a good entry and do not rush in ..... i was always taught that the top 10% and the bottom 10% of any market move are the most dangerous. I am looking for not only a reversal but also a confirmation of reversal/change of direction.

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