CAD/CHF 1.4513 1.2398 1.1125 0.8577 0.7304 -0.5189
The picture tells it all. There was much talk about when this pair hit the peak and many people were talking about SNB manipulation, and that is why the pair fell like it did. It was general talk about the Swissy. I was short on the pair near the top.
This is part of my bias of throwing FA's in the garbage can (JMO). It disturbs rational thought towards the markets.
Any rate This decade's peak up to now is 1.1152. Do you see what happened aftterward? The decade's R1 is 1.1125.
Look at the bottom.
Oh yeah....More SNB talk kicked, and that was the reason for the volatile price action.
Uhh....well. Back to my decade's S&R's.
There was a continuation (As unbelievable as this is.) through the S1, and continued to the dip at .7121, which is less than 23.6% of the way from the WS2>WS3. (I never really got into trading my S&R's in this thread, but that is significant. Anytime there is a continuation of my S&R's, there is always (90% of the time) a correction back to the previous reference point (minimum), which would be the S1 at .8577. It's clear we went well past that, as the peak was .9191.
It's conceivable that as long as the .9191 holds to see a drop the length of the full range of the cycle, which is 1,273 pips, which would take the pair to .7918, which is not a far cry from my projected .8100 level earlier.
That sort of capsulizes the last 2 years activity for this pair.
(BTW, there is much more elaboration I could get into, but after awhile, it will sound like nonsense, unless someone is more familiar with exactly how my whole S&R system works.)