USDCHF

Yes, I agree fellas. However, I'm seeing the last drop as a possible wave 1 (of C) down so there may be a correction up from here to the main downtrend resistance. There are bullish divergences at this trendline but I would be very surprised to see it make a new high above the recent one if it does bounce from here (IF). It does look like it's got much further to fall and the medium term trend is clearly down so the next short opp could be quite tasty

Looking at your chart it looks like a massive head and shoulders forming as well.
so if it finishes below that trend line then possible fireworks?????

In my view this is an ABC correction from 0.9972 of which we have only had 2 and a bit waves so I'd be careful going long just now. Expect this to make around 0.85-0.86 before a big move to the topside.
I could be wrong so DYOR.

This looks good for a long as it appears to be forming a hammer at the long term uptrend support and 78.6% Fib of the last rise (Ai's system but upside down):



dl.dropbox.com/u/20815047/USDCHFdaily30_11_12.gif

redchilly wrote: RMc you can open a Mini account where you can trade 0.10 pence per pip and Micro account where you can trade at 1 pence per pip with only a £50 deposit. I trade with FxPro but there's many out there. You can practice on a demo but I think if you have real money involved it keeps you on your toes! (All IMHO & not an advice to start forex trading as it can be very risky)

I do trade forex as you cam see from my history.
Have been doing many a hour researching too.
Want to be more active though.
Thanks or you input and help. Top man

RMc

RMc you can open a Mini account where you can trade 0.10 pence per pip and Micro account where you can trade at 1 pence per pip with only a £50 deposit. I trade with FxPro but there's many out there. You can practice on a demo but I think if you have real money involved it keeps you on your toes! (All IMHO & not an advice to start forex trading as it can be very risky)