USD/CHF Daily Video, January 21, 2011

[Codex]

It appears as if the 0.618 support will hold on the close of the Daily candle.
Now we just wait for the bounce oh:

 

[rasto007]

Sive,

I attached a daily chart. With my broker, the daily macdp failure did not form on the up bar, two days back. But on the basis of weekly RRT and other bullish signals on daily, i entered. However, there is a macdp failure clearly forming on todays down bar.

With .618 support broken just a moment ago at 0.9483 can you teach us how to think in these situation when we deal with a probable failure of our setup?

Rasto

Sive, thanks for the video response to the questions about the current situation on USD/CHF.

Something that caught my attention is the macdp failure on daily - yesterdays candle. Do you think that is significant? Does that increase the probability of reaching recent lows on daily?

Rasto