2016-03-09_21-39-50eurchf

Dear all,

Let me provide some explanations about the eurchf daily chart.

Price seems to be providing us with consecutive lower lows and lower highs.

Therefore I am more inclined to go with the flow and look for short opportunities.

Stochstik provided a W formation meaning that price might go higher which it did.

It went all the way to number five.

I am waiting to see the next candle close to see if this level attracts some bears.

If bears come into the market and stochstik crosses down then a short trade position should be inserted.

If there is no bearish candlestick revesal pattern provided and the stochs goes and stays over the 80% level then this trade idea is no longer valid.

Target: 1.07600

BEST OF PIPS

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