Trading Spot Forex, Equities and Futures using "Long Term Moving Averages" as Support and Resistance. The strategy consist of breakouts from the 800 or 200 simple moving average (sma) Bollinger Band. Will take into account the 800sma, 200 sma, the 50 sma and recent high/lows as support and resistance. Reversal patterns "double bottom" or "double top" near a Bollinger Band will trigger a trade.

Friday, April 8, 2011

Usd/Chf Neck brake of Head and Shoulders

The Usd/Chf pair had made a brake of the 200sma and 100sma four and eight hours SurpriseBox. This movement is similar to a head and shoulders formation brake of the neck.Have a small position in it, if recoils to the 0.9100 area will add to the position. Target will be the 0.9000 area, stop will be at the 0.9200 area.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com



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