Hi Guys ! I thought it would be nice of me to bring to your attention the following charts. Kind of a christmas present to B1S2 and all others following this thread. Here it goes. Daily. p.s. pls do your own dd....
I should have mentioned IB-FX Interbank (not sure about other FX brokers) doesn't have volume or quotes for the CHF-CAD, it does have CAD-CHF...so the position should be short...
Yen looks extremely bullish here. I will hold my full long position here. James, I'll look at the Swiss/Canadian thing. Your charts are interesting. Thanks for the heads up!
We are on different time frames. Also James, I only trade futures, so the only way for me to do the Swiss/ Canadian would be to trade Swiss long versus USD and short Canadian versus dollar. I'll keep an eye on it.
That's a way to do it. I knew you had an issue with FX cash. I did also until IB's FX platform came around. Just for your reference Interactive Brokers FX platform is direct interbank based, the only way to trade FX non-US pairs imo. All others brokers operate similar to bucket shops of the past, not a good thing. (Also if holding just one position for a long period, like this case suggests, there could be lower carrying expenses...) Just food for thought of course. Cheers and have a great weekend!
Of course, if JPY closes lower today and weekly bar effects histogram in such a way that it will show a bearish divergence, then would you still treat it as a retracement rather than a bounce/reverse? TY!