$CHF

Here are three Usd Swiss charts ( from left to right) a daily, 240 min and 60 min.

This pattern is a nice bullish chart pattern and although i am not entirely sure what the correct name is now (inverted ascending scallop?) the name in the office back in the late 1980's was the 'Horny Hump'! I guess many similar patterns were also included in the same general description(but not any rounded tops where retracement was 80% or more) but this current pattern caught my eye. In fact there is already a similar pattern below the current pattern but on a smaller scale and the new more recent rounded 'egg shaped dome' can be more clearly seen in the daily bar chart. Price has rallied to a high at 'B' at approx 1.0900 on the UMLP then retraced 50% to the LMLP and so far found support there and rallied up to the .382 Fib RT level and fallen back
I am looking to go long $(-Chf) having missed the retouch of the LMLP and will try to find an entry level using the 'Slingshot' trade setup.

The old rule for finding the objective of the 'Horny Hump' was

BC+50% of AB but i will make my objective the centre line of the ML set shown here. The 'Sling Shot' trade setup is one of the tools in my armoury and is especially useful for trading when using ML's as it is designed to give you a trade entry after a retracement in a trending market. I guess i should also mention what's called the 'MOF' (Money On Floor) trade setup which goes hand in hand with the Sling Shot. This MOF setup is to catch the first lower high in an uptrend. I have tried to learn and practice both these two setups that in particular lend themselves ( in my opinion) to Median Line trading. These two trade setups are in part the work of Judy MacKeigan(known as Buffy). At the time i started looking at these setups i did not have Ensign Windows or the template that is used in the educational material available on the web but with a bit of tweeking and common sense was able to reproduce the same study windows in Metatrader.
I find these setups more reliable than using other entry methods such trend lines and Moving averages / Bollinger bands or a break up through of the Fib.382 level.