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USD/CHF

  • #1,761
  • Apr 20, 2011 11:01am Apr 20, 2011 11:01am
Quoting phamquan
I will sell USD/CHF at price 0.89076
now I do? please for me an advice
thanks all !

My opinion is to wait and see what tomorrow brings. If we shoot past .8887 then I would short for a quick profit. If we stall here and tomorrow I would wait until after easter holidays too see where we go. Just be careful and wait for a confirmed uptrend higher. do some backtesting and see if the UC has been in similiar situations and what the outcome may be. I already have.

I am going to wait for tomorrow's close and if it is green then I will open up a "SMALL" position long. If it is a clear break lower then I will open a short position with a tight stop and hope we hit low .88. But remember backtesting will confirm that shorting at all time lows doesnt yield a great profit...maybe 100 pips or more before a large correction only to make the run at the all time low again with a larger low..."the trend". For me right now..it is all about the daily candle close..and where that might be.
Don't be fooled by randomness
  • #1,762
  • Apr 20, 2011 11:09am Apr 20, 2011 11:09am
Quoting frothy
My opinion is to wait and see what tomorrow brings. If we shoot past .8887 then I would short for a quick profit. If we stall here and tomorrow I would wait until after easter holidays too see where we go. Just be careful and wait for a confirmed uptrend higher. do some backtesting and see if the UC has been in similiar situations and what the outcome may be. I already have.

I am going to wait for tomorrow's close and if it is green then I will open up a "SMALL" position long. If it is a clear break lower then I will open a short position with...
Thanks !
  • #1,763
  • Apr 20, 2011 11:10am Apr 20, 2011 11:10am
Quoting frothy
I would wait until after easter holidays too see where we go. Just be careful
That is where I am at. Well, that is what I told my wife so I can drink today.



But seriously, I am done for the week. Friday, which I usually stay away from anyway, will be a waste of time and effort. I will watch the USD/JPY for maybe 24 more hours...but that is it.
  • #1,764
  • Apr 20, 2011 11:33am Apr 20, 2011 11:33am
the chf/lfx is acting light crazy. We see at this cluster proft taking and a drop,
today we see a retrace to this cluster. If price breaks through it, we will see usd/chf drop like stone. But maybe this is just a test, if this cluster is resistance now.

If I see this big bullish engulfing candle for eur/chf I can not understand chf turning bullish again.
Attached Image(s) (click to enlarge)
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  • #1,765
  • Apr 20, 2011 1:03pm Apr 20, 2011 1:03pm
is it a suitable moment to open long now? or it's better to wait to next week?
  • #1,766
  • Apr 20, 2011 1:17pm Apr 20, 2011 1:17pm
Quoting altair
is it a suitable moment to open long now? or it's better to wait to next week?
Why not?

If you have to ask ......send me $500 and i will enlighten you with the meaning of life and the mystery of death.

I have a very small Long position on this Pair. 0.5 mini-lot.
  • #1,767
  • Apr 20, 2011 1:22pm Apr 20, 2011 1:22pm
Quoting altair
is it a suitable moment to open long now? or it's better to wait to next week?
Go for it, just make sure to put in a tight stop loss, so that if it dips past support you won't lose much - minimal risk.
  • #1,768
  • Apr 20, 2011 1:31pm Apr 20, 2011 1:31pm
This shiz needs to drop like a rock, it keeps breaking the low and pulling back up...
  • #1,769
  • Apr 20, 2011 1:56pm Apr 20, 2011 1:56pm
Quoting zipfur
This shiz needs to drop like a rock, it keeps breaking the low and pulling back up...
don´t risk real money, if you don´t know propbility where price may go.

chf/lfx is going up, it has broken resistance, triangle break, strong rsi up.

usd/chf is going to drop further from my charts.
Attached Image(s) (click to enlarge)
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  • #1,770
  • Apr 20, 2011 2:03pm Apr 20, 2011 2:03pm
a last one.

good night.
Attached Image (click to enlarge)
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  • #1,771
  • Apr 20, 2011 2:14pm Apr 20, 2011 2:14pm
This is looking like its going to drop like a rock....but i am waiting for confirmation....
Don't be fooled by randomness
  • #1,772
  • Apr 20, 2011 2:54pm Apr 20, 2011 2:54pm
Quoting frothy
This is looking like its going to drop like a rock....but i am waiting for confirmation....
yes. but it is not only the chf which is rising nicely, its a dropping USD too.

But USD Bulls might return next week. I have a weekly fibo line approaching
Attached Image (click to enlarge)
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  • #1,773
  • Apr 20, 2011 3:38pm Apr 20, 2011 3:38pm
New low, lets see how far it wants to go...
  • #1,774
  • Apr 20, 2011 3:46pm Apr 20, 2011 3:46pm
ya I am putting a small short on this.....looking for profit at .8850 area..
Don't be fooled by randomness
  • #1,775
  • Apr 20, 2011 3:57pm Apr 20, 2011 3:57pm
ActionForex - USD/CHF's break of 0.8895 support indicates that recent decline has resumed. Intraday bias is back on the downside for 61.8% projection of 0.9774 to 0.8921 from 0.9339 at 0.8812 next. On the upside, above 0.9006 resistance will bring another recovery. But upside should be limited by near term falling trend line (now at 0.9176) and bring down trend resumption.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. Sustained trading below 0.9 psychological level will target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection at 0.7798. On the upside, break of 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.
  • #1,776
  • Apr 20, 2011 7:24pm Apr 20, 2011 7:24pm
hello.. what you think today..UC on daily we have sign to lower again bearish candle but..for me not sure so im stay out wacth this move..beside that same on euro daily bullish candle..
  • #1,777
  • Apr 20, 2011 7:26pm Apr 20, 2011 7:26pm
Quoting aqeelaputra
hello.. what you think today..UC on daily we have sign to lower again bearish candle but..for me not sure so im stay out wacth this move..beside that same on euro daily bullish candle..
Bearish engulfing candle, right into a demand zone. No long term trades for me for now. We need to really watch 8862 to see how this plays out.
  • #1,778
  • Apr 20, 2011 7:31pm Apr 20, 2011 7:31pm
Quoting Venice
Bearish engulfing candle, right into a demand zone. No long term trades for me for now. We need to really watch 8862 to see how this plays out.
yes mate..still need patience for this move..
  • #1,779
  • Apr 20, 2011 7:40pm Apr 20, 2011 7:40pm
fck this pair, it took away all of my profit of this month
  • #1,780
  • Apr 20, 2011 7:50pm Apr 20, 2011 7:50pm
Quoting visser300
fck this pair, it took away all of my profit of this month
maybe next time you must put your sl mate..
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