By mike on April 29, 2010
There is a possible buy opportunity coming up on usdchf 1hr TF at 1.0784 based on an emerging bullish butterfly with the following confluences
1. 1.618 extension of AB
2, 1.27 extension of XA
3. good support level
TRADE MANAGEMENT
entry: 1.0784
stop: 1.0749
move stop to break even when price hit 1.0819
t1=1.0840
t2=1.0880
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.
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