Smart and profitable traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. Stock and forex traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new traders will try and fight the trend.
Thursday, October 2, 2014
USD/CHF Daily 13::10 GMT - Earlier uptick was capped ahead of the 0.9596 high and prices have dropped back. Sup. is at the day low at 0.9523 closely followed by 0.9513 and 0.9487. Res. is at 0.9580. More ranging action likely near term.N.I.