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Last Updated on Thursday, 23 June 2011 09:09
Written by Derek Frey
Monday, June 20th, 2011

This week we start off without a lot of larger time frame patterns. We are seeing a number of 5 and 15 minute patterns develop and will look to work with some of them early this week. The situation in Greece continues to breed uncertainty which has temporarily led to the markets chopping around in fairly narrow ranges. We expect the ranges to begin to be broken out of later this week as the situation in Greece goes from unknown to slightly less unknown For now we are watching for a test of support near the .8400 handle on the USDCHF. We are buyers of the 1 hour bullish Gartley pattern there as we discussed in the inner circle trading room earlier today.

Derek Frey