For November 4, 2009 only the Swiss Franc Dec'09 futures have produced a BEAR TREND ACCELERATION signal.
Swiss Franc Z'09 9767 Inflection Pivot
The question, is does this signal have potential or was yesterday's signal just a 1 day event. The price point to key off that keeps the MKT in an aggressive sell posture is the 9767 Inflection Pivot. This is the price point that defines the technical state from being an aggressive sell posture below that price point to a potential reversal or digestive trade above that price point.
If the MKT is bad it should hold below 9767 and press the 9697 initial support level. If we are in for a digestive session the contract will stabilize here. A held failure confirms yesterday's negative signal targeting 9627 on any release. 9487 is the current extreme.
A held rise above 9767 takes the edge off the currency for a difficult trade up to 9802 with the potential of going as high as 9837 in the session. No follow through is expected. Only above 9837 does sentiment shift projecting the MKT up to 9977.
Draw a line on your intra-day chart at these levels. Look for opportunity in the direction of the Inflection Pivot bias. Executing at or near these price points will provide the best risk / reward.
JS
STRATEGY BASED TRADING Review http://progressive.powerstream.net/008/00102/edu/interactive/js_services/strategy_based_trading/index.html
For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary FREE Trial.
