- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
Today's PRICE MAP Performance for SF
Wrap Up
- Today was a "MONEY DAY" In the SWISS FRANC market. The MC Value of -1 represents a slight negative bias in a NEUTRAL DIGESTION market state. The NEGATIVE tone for the session is confirmed by the R LEVEL being placed at the UP. Our expectation for the session is for a sideways trading environment, looking to SELL the MKT on any corrective rally up to the UP. At 3 am CT, overnight traders were able to capitalize on the SELL UP FADE strategy as the market respected our key inflection point, and sold off throughout the rest of the day. After the high was put in at 3 am CT at the R Level, the market continued to build NEGATIVE structure (lower lows, lower highs) reiterating the negative tone. Around 10 am CT, the market gave us a SELL DP BREAKOUT strategy. Having built negative structure throughout the entire session, this was a valid strategy to accept. After selling off sharply, the market found support at the DT1, rebounded back to the DP and then sold off throughout the rest of the session, giving traders a chance to take profits at the DT2.
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