Attachments: GBP/CHF and USD/CHF

GBP/CHF and USD/CHF

#801
Aug 10, 2011 4:33am Aug 10, 2011 4:33am

Unknownpips
| Joined Jul 2011 | Status: Trader | 596 Posts

Quoting Jazznos

Disliked

Yup, intervention:
http://www.forexfactory.com/news.php?do=news&id=308917

Ignored

Interesting I put an upper limit on my profit and slept. Woke up and it hit. Was going to short but franc intervention.. interesting.

#802
Aug 10, 2011 8:14am Aug 10, 2011 8:14am

Cbh123
| Joined Apr 2009 | Status: Student of Price Action | 258 Posts

Finally shorted at 1.1721 just now, SL is at .1835, will take 3/4 off at .1630.

Cory

#803
Aug 10, 2011 4:20pm Aug 10, 2011 4:20pm

Unknownpips
| Joined Jul 2011 | Status: Trader | 596 Posts

Daily RSI and stochastic suggesting a trend shift to happen. It is near oversold levels and the point at which a bounceback happened in the past. Coupled with SNB concerns I am looking to long at around 1.1745/50 based on retracement. Anyone else have ideas?

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#804
Aug 10, 2011 5:17pm Aug 10, 2011 5:17pm

Cbh123
| Joined Apr 2009 | Status: Student of Price Action | 258 Posts

Quoting Unknownpips

Disliked

Daily RSI and stochastic suggesting a trend shift to happen. It is near oversold levels and the point at which a bounceback happened in the past. Coupled with SNB concerns I am looking to long at around 1.1745/50 based on retracement. Anyone else have ideas?

Ignored

Hi Unknownpips,

Personally I don't see any reason to long yet, is your trade based on anything other than stochastics and RSI? I would be very careful going against the trend with those indicators, they can stay overbought/oversold for a long time. There are a lot of currencies to trade, no reason to try to stop a major trend. If you feel it is shifting I would focus your trading somewhere else unless you have other confirmation.

Just my opinion.

Cheers

Cory

#805
Aug 10, 2011 5:24pm Aug 10, 2011 5:24pm

Unknownpips
| Joined Jul 2011 | Status: Trader | 596 Posts

Quoting Cbh123

Disliked

Hi Unknownpips,

Personally I don't see any reason to long yet, is your trade based on anything other than stochastics and RSI? I would be very careful going against the trend with those indicators, they can stay overbought/oversold for a long time. There are a lot of currencies to trade, no reason to try to stop a major trend. If you feel it is shifting I would focus your trading somewhere else unless you have other confirmation.

Just my opinion.

Cheers

Cory

Ignored

I appreciate the input. I am not entering any longs yet. Just that my thought was if there would be a shift in the trend then I would enter above that mark. You are absolutely right about the overall trend though. I was just looking at the chart trying to pattern spot.

The pattern prior has been a wave - down - up - down - up and so on. But that of course within the bearish channel. Perhaps it would be best to identify if this is new a new bear channel then try to pattern spot.

Thanks for the heads up!

#806
Aug 11, 2011 1:28am Aug 11, 2011 1:28am

amirfx_24
| Joined Aug 2011 | Status: Trader | 4 Posts

its down. because the price is tuch a resistance
and cant break it.
the stoch is in a over bought zoon
and the important reason is patern of open and close of 2 candle over the bollinger band.
what about your idea???

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#807
Aug 11, 2011 8:07am Aug 11, 2011 8:07am

Unknownpips
| Joined Jul 2011 | Status: Trader | 596 Posts

Quoting Unknownpips

Disliked

Daily RSI and stochastic suggesting a trend shift to happen. It is near oversold levels and the point at which a bounceback happened in the past. Coupled with SNB concerns I am looking to long at around 1.1745/50 based on retracement. Anyone else have ideas?

Ignored

Hate to say it but the pattern didn't lie this time. If I was wiser I would have hit my entry and enjoyed a nice 500pips. I guess it would have been partly luck since SNB came out with all that hulabaloo, however both rsi, stochs and chart following a cyclical pattern so far until now.

#808
Aug 11, 2011 7:15pm Aug 11, 2011 7:15pm

the-game
| Joined Sep 2010 | Status: Trader | 721 Posts

Next week is going to be hectic with all those high impact news coming out every day for the GBP and USD.

I might wait till next week is over and then make a decision to stay short if mostly negative news or stay away from these pairs as they might range if flat or positive news.

#809
Aug 12, 2011 5:14am Aug 12, 2011 5:14am

Geene
| Joined Sep 2009 | Status: Trader | 715 Posts

gc..sell 2540

Trader from Croatia

#810
Aug 12, 2011 12:59pm Aug 12, 2011 12:59pm

jeremyyn
| Joined Feb 2011 | Status: Margin Buu | 179 Posts

Anyone think 1.19500 Area a possibility for GBP/CHF?

#811
Edited Aug 13, 2011 8:05am Aug 12, 2011 8:11pm | Edited Aug 13, 2011 8:05am

forex3e
| Joined Jan 2007 | Status: its now or never | 531 Posts

recent price action chart

swissy - no go at harmonic number as price got rejected at the month trend line

..

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#812
Aug 15, 2011 6:52am Aug 15, 2011 6:52am

SystemFX2011
| Membership Revoked | Joined Jun 2011 | 543 Posts

Looking for a short 400 pip target or so. (GBP/CHF)

Entry @ 1.2883

TP #1 1.26560 (ADR Low)
TP #2 1.25646 (200 EMA)
TP #3 1.24199 (800 EMA)
TP #4 1.22104 (12th Aug's Low)

Do good stuff

Steve

#813
Aug 15, 2011 9:13am Aug 15, 2011 9:13am

cgldsmth
| Joined Dec 2005 | Status: It's only money | 1,413 Posts

short imminent

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TRADE FOR SWAP

#814
Aug 15, 2011 9:46am Aug 15, 2011 9:46am

SystemFX2011
| Membership Revoked | Joined Jun 2011 | 543 Posts

almost 25% of the way there

I need to go do something else, this is boring!

Quoting SystemFX2011

Disliked

Looking for a short 400 pip target or so. (GBP/CHF)

Entry @ 1.2883

TP #1 1.26560 (ADR Low)
TP #2 1.25646 (200 EMA)
TP #3 1.24199 (800 EMA)
TP #4 1.22104 (12th Aug's Low)

Do good stuff

Steve

Ignored

#815
Aug 15, 2011 10:46am Aug 15, 2011 10:46am

s1quash1
| Commercial User | Joined Aug 2011 | 44 Posts

I trade eurusd primarily and gbpchf secondary...and thats it. Focusing on that 2 pair already gave enough pips.. I will try to post some live trades starting tomorrow.

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