While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
USD/CHF…88.00 Suisse becomes a significant momentum level on the weekly-semi annual charts. It is a big momentum area.
If you take the time to look at an hourly chart, both the Euro & Swiss move started with the opening of early London and continued.
Just how much of this move is nothing but Oligarchs hiding their money remains to be seen.
It’s not a direction to chase given the geopolitical ramifications and month end.
Currency traders would be better served to wait until Sunday night and then trade with a tight stop either way.
The very long term charts show the possibility of a larger move up in the Swiss Franc. Wait for confirmation, since this can be a huge Bull trap.
EUR/AUD…154.19 is the 2013 close in this cross.
Same story…this has the potential for higher, however today would not be on my list of days to chase direction.
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