Once again, another Bollinger band trade. This time, instead of using them to pick a top or bottom, I’m gonna use it to help me get in on the overall trend. The pair looks like it just broke out of a bollinger squeeze, which means that it could continue to “walk the line” down teh charts. However, I’m going to be conservative on this and wait for a pull back to the middle moving average and to retest support at .8300. My stop is 100 pips, aiming for .8000 area
I just think the dollar sucks right now and with everything happening, franc will still come out on top.
[B]Trade Adjustment:[/B]
Will close early if the bottom bollinger band becomes horizontal.
Nice idea, I’ve been daytrading this pair since last week and at present I can see a 2x top pattern on the 30min, and hoping for a break below to retest the low at .80800.
Do you expect the pullback to .83000 before the low of .80800 ?