Mouse Trap ! Where's the cheese ?

Good Evening / Morning Dynamic Traders

“Better to have tried and failed, than not tried at all”

Cross = CHF Daily below (Courtesy of Advanced Get / E Signal)

As another week goes by in a slow "trending" market, we are yet to see the gains we normaly have seen at this time of the year. This is due to the ongoing Euro zone problems that continue to hold the front pages of our newspapers. This reason is stopping the trends devoloping and continuing their momentum. There are still opportunities to be had, but gains are smaller and a lot of looking is required.

One of these opportunities is the CHF, Lets look at the Monthly

Price is below the VI and has found resistance around a key Fib number after doing a pullback. Will price continue to fall away and return to the trend or could we see a head and shoulders pattern form over the coming weeks ?

Lets take a look at the Daily chart.

Price, our main indicater is above the VI and we have a cluster of COE in our area. Fib Support level, RN & VI. If we can break through these, then maybe we could return to the trend. Ther is a long way to fall to next support. Add to your watch list.

I came across some key steps with regards being a disciplined trader and preached by Mark Douglas, please read them and let is know if they have been a help.

I will not be posting for the next 7-10 days due to some appointments I have to keep, so good luck in your trading.

Mark Douglas - The Disciplined Trader - Summary