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munyaelliott

SWISS FRANC CURRENCY INDEX (SXY) DAILY TIMEFRAME SHORT

Short
Indice Franco Svizzero (TVC:SXY)  
munyaelliott  
TVC:SXY   Indice Franco Svizzero
Trend Analysis Chart Patterns Beyond Technical Analysis bearflags4days ascendingwedg falcontradingguidance impulsecorrectioncontinuation swissfranc UBS francsuisse switzerland wallstreet
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trendanalysis chartpattern beyondta bearflags4days ascendingwedg falcontradingguidance impulsecorrectioncontinuation swissfranc ubs francsuisse switzerland wallstreet
The Swiss Franc currency index is currently moving in a series of lower highs and lower lows, characteristic of a downtrend. The price is clearly moving downwards with brief correctional pauses as shown by the ascending wedges and bear flag chart patterns. I am targeting a short trade toward the 97.8 area, which will be my profit taking zone. This area represents a potential buy zone as it is the bottom of the correctional structure. I certainly hope history repeats itself with this trade and the 90% rule sticks out!!!.

A break above 100 might change my bias a bit, but currently i am targeting the 07.8 price level for profit-taking.
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