- Technically the MKT is vulnerable to the offer. On the SELL side accept all BREAKOUT, FADE and REVERSAL signals. The MKT is on edge and any negative signal, especially below the previous session high, is an opportunity. Anticipate a price "zone" around a major resistance point to FADE. Have a plan and be ready. If your stop gets hit and the MKT does not immediately follow through, consider re-entering, even doubling up if there is structure to define low risk.
- On the BUY side REVERSAL strategies can be executed off of major support levels but preferably after an emotional sell off. This is an aggressive strategy and any profits should be realized at the previous support failure points. Avoid DP FADE BUYS even with confirmation, as this is more likely a plateau for a BREAKOUT SELL strategy. UP BREAKOUT strategies are not recommended but do have a better chance of succeeding than a DP FADE.
Today's PRICE MAP Performance for SF
Wrap Up
The DOUBLE TOP in the SWISS FRANC today at our KEY INFLECTION PIVOT was the signal to get SHORT the SWISS FRANC market on the SELL UP REVERSAL strategy. At 3:30 am CT, the market peaked its head above the UP R and then quickly reversed back under this key level of resistance. After selling off back toward the DIR, the market had another go at the UP R and offered us an exhaustive DOUBLE TOP formation. This was our "tell" to accept the SELL UP REVERSAL strategy which took the market all the way down to the DP SUPPORT pivot, where profits could have been realized. After bottoming at the DP, a BUY DP REVERSAL hedge strategy got traders LONG from our SUPPORT pivot. Traders were able to ride this trade all the way up to the DIR to close the session.
