Friday, November 30, 2012

USDCHF Head-and-Shoulder Pattern USDCHF Head-and-Shoulder Trade
Looks like price is consolidating after drop from 0.9500. Now the pattern is making out a head-and-shoulder pattern on hourly chart. 

Neckline should be a make or break for the break. A break below the neckline should call for more downside. 

I plan to go short on break and daily close below the neckline. At the same time, if the neckline holds then I will go long, with small size.

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