Monday, August 17, 2009

CAD/CHF long?

I am really liking the consolidation on this pair right at the 50% channel area. I am watching for a bounce and a break above the short term resistance to run back up to the top resistance channel. If the pair doesn't break by morning I will tighten my entry further.

Maybe an entry at .9770 and a target of 1.0050. Stop below the trend line and tightened to below the most recent low after I make a new high.