BASKET TRADING
CHF UPDATE 5/03/2014
CHF is still very weak so trade directions remain the same
Bearish : CHFJPY
Bullish : EURCHF, GBPCHF, AUDCHF, NZDCHF and USDCHF
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This thread is created to focus on trading the Base and Counter pairs of a currency simultaneously by looking at the currency using Pure Price Action.
The trade set will be based on Support,Resistance, Trendline, Channel, Candle reversal patterns,Candle continuation patterns and new release.
The currencies are AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD.
When the currency stated above are strong we buy the base and sell the counter but when it is weak we sell the base and buy the counter
For example at the close of the daily chart on February 03,2014. I looked at my chart to see that CHF gave a bearish set up at a very strong Resistance indicating that CHF is weak
Since that CHF show weakness, we then open all the CHF crosses to look out for bearish set in CHF Base and bullish set up in CHF Counter as as shown below
Bearish : CHFJPY
Bullish : EURCHF, GBPCHF, AUDCHF, NZDCHF and USDCHF