Hey All, So price is stagnating around 1.0150 an 1.0200. My Trade Triangle is tightening with price looking like it has a better chance of falling than rising. However, that is always news dependent. PPI and CPI coming this week for USD with not much of a surprise expected. The CHF only has Unemployment this week on Tuesday. That announcement also not expected to surprise much as it rarely does. Waiting for a break either way but more expecting a downside move. - Ric {image}
{quote} Hey All, No real change. Still waiting. - Ric {image}
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Hey All,
Both short term Trend-lines where broken this week. Waiting to re-establish. However I did place a trade box if/when price gets to 1.01200 with a downside potential down to parity (1.0000) . Wait and see.
{quote} Hey All, Both short term Trend-lines where broken this week. Waiting to re-establish. However I did place a trade box if/when price gets to 1.01200 with a downside potential down to parity (1.0000) . Wait and see. - Ric {image}
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Hey All,
Short taken this morning (filled @ 1.01136) after Fridays close was inside trade box. As of this post my trade is up 60ish pips. Price has pushed down all day. Secured stop at 1.0100. I want to see price hit parity which should be right around the major long term trend. After that I am not sure what will happen.
I don't see much discussion of USDCHF very often... According to the calendar, there is to be an interest rate statement in 9.5 hours. The prediction is that the rate will go up by a quarter percent. I see that USDCHF has been on a tear lately going up about 280 pips since June 6th. That leads me to believe that the market thinks they won't increase interest rates. Otherwise the price would go down since increasing interest rates make a currency more valuable, thus USDCHF should be going down. Any ideas on if they will go increase rates?
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Hello Traders!
So, I'm new member on forexfactory.com.
In USD CHF Chart, i think it possible a put on 1.01006 or 1.00861 for trading tomorrow.
{quote} Hello Traders! So, I'm new member on forexfactory.com. In USD CHF Chart, i think it possible a put on 1.01006 or 1.00861 for trading tomorrow. What you think guys???
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I am taking some longs at 10058 based on Daily Chart. Where it will be tomorrow I don't know. Small target is 140 and aggressive is 270. Its got to turn first..
{quote} Hey All, Short taken this morning (filled @ 1.01136) after Fridays close was inside trade box. As of this post my trade is up 60ish pips. Price has pushed down all day. Secured stop at 1.0100. I want to see price hit parity which should be right around the major long term trend. After that I am not sure what will happen. - Ric {image}
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Hey All,
OK I closed my trade manually and was filled @ 1.00805 netting 33 pips. Here is why:
1) There was a triple tap against 1.00500.
2) The down move was 50% retrace of the last upswing.
3) The whole trade was a counter trend trade.
So now what? I'm not sure. Price is bouncing between 2 powerful trend lines. Going to wait and see.
{quote} Hey All, OK I closed my trade manually and was filled @ 1.00805 netting 33 pips. Here is why: 1) There was a triple tap against 1.00500. 2) The down move was 50% retrace of the last upswing. 3) The whole trade was a counter trend trade. So now what? I'm not sure. Price is bouncing between 2 powerful trend lines. Going to wait and see. - Ric {image}
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And just as I thought price has started moving up. To soon to make any decisions.
{quote} And just as I thought price has started moving up. To soon to make any decisions. Have a great weekend, - Ric {image}
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Price creeping back down to my previous trades exit and the triple tap location @ 1.00500 that caused it. Price is tightening as many other USD pairs are doing.
{quote} Price creeping back down to my previous trades exit and the triple tap location @ 1.00500 that caused it. Price is tightening as many other USD pairs are doing. - Ric {image}
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Price is up against my trend lines. A triple tap at the 1.0200 level indicates a possible down move. However the trend line has not been broken to the down side. Overall trend is up but we are in need of a retrace. I see 4 possible levels, each one harder to get to then the next.
0.9900
0.9750
0.9550
0.9200
Upside potential could reach as high as 1.1750 if we can break through 1.0500.
In the shorter term view though I just need price to get out this 70 pip range.
