Buy posted to TAP at 8:49am ET, buy USDCHF at 1.0585. Looking at the 4 hour chart the CHF has seen historical support and resistance lined up at the 1.0580 level and has potential to set up as a reversal pattern here. There is also the .50 fib of the closest up trend in place at 1.0578. Stop is below the .382 of the same fib range.

USD/CHF Chart Picture

This entry was posted on Tuesday, July 13th, 2010 at 8:07 am and is filed under Trading Signals & Strategies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.