By mike on April 8, 2010
There is a possible buy coming on usdchf for bullish continuation based on an emerging bullish butterfly with the following convergence
1. 1.618 fib extesion of ab
2. 1.27 fib extension of xa
3. good Bullish TL bounce
4. good support level
entry 1.0722
stop 1.0701
t1-= 1.0740
t2=1.0850
Long bar towards entry will invalidate this trade setup
Posted in Pending Trades, USDCHF
My name is Fowope A. Mike, a mathematician and teacher, who has worked in one of the leading banks in Nigeria for 8 years. I started trading the Forex two and half years ago. I am a chartist, who vehemently believes in 'Trading what you see on the chart'. My trading concept is looking for convergences at important levels. I employ harmonic patterns, multi time frame analysis, trendlines and fibonacci retracements as my trading tools. I am a contributing editor for currency market column of stock watch magazine in Nigeria.
