Went long at 1.2396 based on support between 1.238x and 1.2399, 200 sma on 1h frame and 33.2 fibo ret from last bullish move. Targeting in long term 1.2660, SL under last top, around 1.2340.
- #10,543
- May 17, 2013 12:27am May 17, 2013 12:27am
No problem, always helping with pleasure, we are all here to learn. If you wish i will explain i more details why i belive we are going long. Firstly CHF index. We breaked over a half year long bullish trend with a double top which is a strong sign for reversal. Still we are now at support, but i belive it will be taken i few days, or mayby some side move between lines I marked. Secondly as i wrote the combination of 3 things- fibo level, support level, and sma made a strong support for E/C which was a sign for me to go long, additionaly confirmed...
If you not gonna take my advice and market
get to 1.257 or even 1.26, lower your Tp to 1.264.No doubt market wouldn't go that far, the best that would be is 1.2495-00 before a dive to 1.23 if not lower.
By the way, yesterday low wasn't because any what you said '1 hour or 200sma', it was only because of the 4 hour chart
Don't know where all paragraphs and links of buying Euro and selling Chf can be exchanged when a single sentence including a single word(retrace) says it all
Hopefully, nobody got very optimistic with such useless articles and bought anywhere 1.25 at time that comment was posted. Just in 3 days, Bulls could had longed for 100 pip profit each instead of stubbornly waiting for 1.26 or 1.30
SNB holding 1.20 peg= 1.25 can't be a peg, it is very expensive not like some said wait for market to base EC on 1.25 and SNB would announce 1.25 peg. This is not a game, not easy like that, it's a whole economy involved.
BOJ took much years to devalue the yen just recently and it may fail after some time.
SNB don't have same devaluation thoughts and wouldn't have same aggressive approach.
Don't be greedy, take profit reasonably when it is available today, without 1.25 peg and 1.30 dreams.
You can anytime Long again 1.23 1.22 or maybe 1.21** in near future time.
If we see 1.25** or 1.26** before that, so what? no problem you lost nothing, already added money into your account, 100 pip is nothing to risk on between 1.25 tp or 1.26** tp instead can be a hard knockout when market reverse from 1.25 and you see all your gains disappear and your sl filled. Take Care
Trade according to current market condition, not what you think would be.
- #10,546
- May 20, 2013 12:27am May 20, 2013 12:27am
{quote} Yes, I also don't believe that the peg will be adjusted. Small countries get beaten up for openly devaluing their currencies. Even Japan (world's 3rd largest economy) has to pretend that devaluation is just a handy by-product of efforts to reflate the economy and treads VERY carefully around the G7 meetings. China of course is a big country and, since it owns so much US sovereign debt, Washington has had to stop threatening it over currency manipulation. Switzerland got away with a peg when everyone saw that nobody was going to buy Swiss...
Don't like to show it a Heroic comment after market already gone there because I always post levels before not after(others do) get there, but if a Bull asked where to long at that day could had easily gave him same low point
Just like this week I say a penetration of 1.2395-00 would turn the pair bearish to 1.23- 1.2270. And, for today we may see 1.2415 till that first level.
Lets hope the dude who longed EC last week on that 4hr support(not the 1 hour he said!) took my advice and closed his position on friday 1.2495-00( remember what was friday high
) like I suggested, not yet dreaming of 1.26 because as you see, can long again on same level this week, instead of seeing all his profits disappear. Jordan should be critical on Wednesday, would speak same defend 1.20 peg unlimited blah blah. The pair moving technically, would be nice to see it continue like that, a drop to some 1.22-1.23 to push up again and so on.
Trade according to current market condition, not what you think would be.
- #10,547
- Edited 2:56am May 20, 2013 2:02am | Edited 2:56am
{quote} Congrats, right answer(Indicated Support). You Win with us
I cashed my trade even earlier, but the reason for that is that i wasn't completly sure about it and had to leave for few days on a conference and i don't like leaving trades without monitoring them for longer time, when i am not sure. But to be honest, im not afraid of loosing profit, just take my SL to BE and if it will be hit, i lose nothing beside oportunity and I am able (sometimes) to enter at even lower levels tha previously. I trade in long periods so i can take more than 20-50 pips :>
- #10,554
- May 22, 2013 6:52pm May 22, 2013 6:52pm
{quote} Your trade doesn't look bad dude, but if you want to earn some money from it better lower tp 1.2495-00, take the money be happy today before you no doubt see your sl filled before your 1.2660 TpIf you not gonna take my advice and market get to 1.257 or even 1.26, lower your Tp to 1.264. No doubt market wouldn't go that far, the best that would be is 1.2495-00 before a dive to 1.23 if not lower. By the way, yesterday low wasn't because any what you said '1 hour or 200sma', it was only because of the 4 hour chart Don't know where all paragraphs...
The Truth is found above(couple of posts ago), without deception of some others commentators.
Your Tp was 1.2660 not 1.2650 what you want to cheat viewers with as if you're some hero. Where I had advice you to set it 1.264, did not tell you the exact 1.264* because no trader sets a Tp to the last pip, couple pips don't matter.
Most of you come to the thread saying have a long held from 1.23 1.22 or maybe 1.20 after market is now 1.26. I can see why
When you were stuck with your 1.2660 Tp, had been longing 4 times till 1.25 for 100 pip each(will give you 100 pip for free
), not to go back to past years of small range strategy, implies if any have a doubt that EC must be trade according to current market condition not 1.26 and 1.30 fantasies, then you have a big problem. Congrats, your tp after 2 years is fill, am full of many many thousands pips so far.Briefly, my signature say it all
No need for superfluous arguments. My comment are found in the thread and others too, people can judge
I believe today high might be held until next month SNB Monetary Policy. All what Jordan today comment had done is a quick break of 1.257 and 1.264* the levels had mentioned couple of days ago.
Most probable to see a retrace to 1.246 if not lower when traders realize that Jordan just spoke 'possibilities' not facts or actuality, before going to test 1.264* again some days before that date.
Because a break of 1.264* will mean a free move to 1.30 which may not be that easy since the market is not ready for that I think.
However, if the break occur, congrats for the 350 pips, not worth
Trade according to current market condition, not what you think would be.
- #10,555
- May 23, 2013 2:43am May 23, 2013 2:43am
{quote} The Truth is found above(couple of posts ago), without deception of some others commentators. Your Tp was 1.2660 not 1.2650 what you want to cheat viewers with as if you're some hero. Where I had advice you to set it 1.264, did not tell you the exact 1.264* because no trader sets a Tp to the last pip, couple pips don't matter.Most of you come to the thread saying have a long held from 1.23 1.22 or maybe 1.20 after market is now 1.26. I can see why
- #10,556
- Edited 3:23am May 23, 2013 3:02am | Edited 3:23am
{quote} The Truth is found above(couple of posts ago), without deception of some others commentators. Your Tp was 1.2660 not 1.2650 what you want to cheat viewers with as if you're some hero. Where I had advice you to set it 1.264, did not tell you the exact 1.264* because no trader sets a Tp to the last pip, couple pips don't matter.Most of you come to the thread saying have a long held from 1.23 1.22 or maybe 1.20 after market is now 1.26. I can see why
- #10,557
- May 23, 2013 6:20am May 23, 2013 6:20am
The Truth is found above(couple of posts ago), without deception of some others commentators. Your Tp was 1.2660 not 1.2650 what you want to cheat viewers with as if you're some hero. Where I had advice you to set it 1.264, did not tell you the exact 1.264* because no trader sets a Tp to the last pip, couple pips don't matter.Most of you come to the thread saying have a long held from 1.23 1.22 or maybe 1.20 after market is now 1.26. I can see why
I believe today high might be held until next month SNB Monetary Policy. All what Jordan today comment had done is a quick break of 1.257 and 1.264* the levels had mentioned couple of days ago. Most probable to see a retrace to 1.246 if not lower when traders realize that Jordan just spoke 'possibilities' not facts or actuality, before going to test 1.264* again some days before that date. Because a break of 1.264* will mean a free move to 1.30 which may not be that easy since the market is not ready for that I think. However, if the break occur,...
PK
