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EUR/CHF

  • #10,861
  • Aug 22, 2013 4:00am Aug 22, 2013 4:00am
We've hit R2 today which is definitely Bullish. Price has also crossed the D1 Simple 20 MA. From memory the last few weeks have all seen down days on Friday. Let's see where we close today. Maybe it's a steak for me.
  • #10,862
  • Aug 22, 2013 4:05am Aug 22, 2013 4:05am
Quoting Lover Man
We've hit R2 today which is definitely Bullish. Price has also crossed the D1 Simple 20 MA. From memory the last few weeks have all seen down days on Friday. Let's see where we close today. Maybe it's a steak for me.
German GDP tomorrow

Like you say todays close will be important
  • #10,863
  • Aug 22, 2013 5:38am Aug 22, 2013 5:38am
Ok so its flying now. I cant see a crash back down today. But if we end very high today some profit taking / shorting may happen tomorrow.
  • #10,864
  • Aug 22, 2013 5:56am Aug 22, 2013 5:56am
Quoting holmes
{quote} According to my chart fibo time this month 22nd must be the start of a bullish trend, I might make a mistake for a day or two days though.

I had told 22nd is the start of bullish trend.
  • #10,865
  • Aug 22, 2013 6:00am Aug 22, 2013 6:00am
Quoting holmes
{quote} I had told 22nd is the start of bullish trend.
You did indeed Holmes,when you say bullish trend how bullish do you mean?

I dont know if anybody pays any attention to options i dont usually but apparently there is one at 1.24 for the 10am new york cut.
  • #10,866
  • Aug 22, 2013 6:03am Aug 22, 2013 6:03am
Quoting brinks
{quote} 1.24 for the 10am new york cut.
1.24 is a long way up from here considering we've moved 40 pips already.
  • #10,867
  • Aug 22, 2013 6:09am Aug 22, 2013 6:09am
Quoting Lover Man
{quote} 1.24 is a long way up from here considering we've moved 40 pips already.

Yep agreed
  • #10,868
  • Aug 22, 2013 9:17am Aug 22, 2013 9:17am
I've reduced my position size. Reason being I've seen it go down most Fridays in the last few weeks. Is there a simple website which can show this?
  • #10,869
  • Aug 22, 2013 10:10am Aug 22, 2013 10:10am
As it showed resistance few minutes ago at 1.2351 I went short, and realized my daily objective in less than 10m. Sweet pair.

As a sidenote, the way it counter-mirror EURUSD in the very short term is amazing for something trading in the same base currency. Is it as if the CHF really exchanges to the dollar first, then to EUR as a consequence, but I am not able to analyze this. Is there any posting where this is discussed ?
  • #10,870
  • Aug 22, 2013 1:03pm Aug 22, 2013 1:03pm
So a return to R1 which is holding. Looking like a good upward bar on D1 with close on or just over the Simple 20 MA unless something major happens.

H4 has crossed the Simple 20 MA also and we can see 2 bars open and close above this MA.

This all looks very bullish to me.
  • #10,871
  • Aug 22, 2013 1:16pm Aug 22, 2013 1:16pm
Forgot to add: ate a massive 16oz ribeye.
  • #10,872
  • Aug 23, 2013 1:27am Aug 23, 2013 1:27am
Quoting Lover Man
Forgot to add: ate a massive 16oz ribeye.
good news on the steak hopefully be having a few more from this pair
  • #10,873
  • Aug 23, 2013 1:39am Aug 23, 2013 1:39am
Quoting brinks
{quote} good news on the steak hopefully be having a few more from this pair
Yeah

Show me the beef
  • #10,874
  • Aug 23, 2013 2:04am Aug 23, 2013 2:04am
Ribeyes are the best!
  • #10,875
  • Aug 23, 2013 2:17am Aug 23, 2013 2:17am
Quoting Bluedolphin
Ribeyes are the best!
I like fillet rare but ribeye has to be medium.
  • #10,876
  • Aug 23, 2013 7:16am Aug 23, 2013 7:16am
I would vote for medium rare both. Maybe a good Fiorentina?

with this range Im pretty fine but Im afraid that something will happen as this starts to be too obvious
  • #10,877
  • Aug 23, 2013 7:24am Aug 23, 2013 7:24am
Quoting pipxster
I would vote for medium rare both. Maybe a good Fiorentina? with this range Im pretty fine but Im afraid that something will happen as this starts to be too obvious
How do you mean pipxster? A stop hunt to the downside?

from my point of view I'm only playing this long and I'm using below 1.20 as a stop
  • #10,878
  • Aug 23, 2013 7:53am Aug 23, 2013 7:53am
I think maybe even Goldman Sachs doesnt know what will happen with this pair but the main principle has to change soon. It would be nice if this would suddenly fly, but again its too easy, I would prepare for worse so yes a 100-150 pip spike before (not below 1,2 oc) I think its in the cards, Im prepared for that with some gunpowder on the way down. In any case if the current principle will stay Im OK with this rangetrading for 2-3-5 years .
  • #10,879
  • Aug 23, 2013 8:07am Aug 23, 2013 8:07am
Quoting pipxster
I think maybe even Goldman Sachs doesnt know what will happen with this pair but the main principle has to change soon. It would be nice if this would suddenly fly, but again its too easy, I would prepare for worse so yes a 100-150 pip spike before (not below 1,2 oc) I think its in the cards, Im prepared for that with some gunpowder on the way down. In any case if the current principle will stay Im OK with this rangetrading for 2-3-5 years .
Great minds think alike pipxster that is my thoughts exactly maybe a spike below 1.22 as there must be some stops around that area and then onwards and upwards.

As you say i have gunpowder left if it does that or on a good break above 1.24640 on a daily close add some more.

It does feel like its changing though and could just never come back like dollar yen did in the low 77's
  • #10,880
  • Aug 23, 2013 8:28am Aug 23, 2013 8:28am
Quoting pipxster
its too easy
I try not to worry about stuff like this. If it is too easy or not. I keep it simple. I think the pair looks like it is going up and it will go up more. So I buy. If I start to over think if it is too easy or not then it gets too confusing.
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