Currency Market - Swiss Franc Highlight #2
Major low identified through the use of momentum oscillators
divergences and trading techniques presented in "The $upertrader's Reference
Manual" which ALIGN with the "Inversion Cycle" projected turning points
listed in "The 1998-99 $upertrader's Book of Linear Time Cycles".
(COMMENT #s 283)
UPDATED 19980406
COMMENT 1998-283
1. Let's look around page 93 of "The $upertrader's Book of Linear Time Cycles" a little more.
2. From the "WIC", let's turn to page 333.
3. Can you see how this market is still holding last August's lows?
4. Traders should be particularly sensitive to market reversals to the upside in this market and should employ approaches that provide short entry with tight stops against recent lows in the June contract.
5. The very short term trading system presented on pages 96-101 of "The $upertrader's Almanac - Reference Manual" is such a "system".
6. A close above the open over the next few days will cause a "black" candlestick which should be sufficient to provide a short term entry signal.
7. The system presented in pages 205-209 of "The $upertrader's Almanac - Reference Manual" is particularly suitable for this market at this time as is the "ALMANAC II" trading system presented in "The 1996 $upertrader's Almanac - 2nd Half Edition).
8. The reader should observe that trading is simply the process of identifying a number of situations such as this one that have a chance of working out quite well if the analysis is correct but which involve very little risk to capital if wrong.
9. If prices did not bottom for the year this last week, odds will begin to favor that the scenario presented in the middle chart on page 282 of "The 1998 $upertrader's Almanac - 1st Half Edition", last sentence, will not manifest itself.
10. Momentum oscillators such as RSI and Slow Stochastics are providing bullish DIVERGENCES (see pages 171-184 of "The $upertrader's Reference Manual").
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