Long term buy signal!

Discussion in 'Forex Trading' started by jrs3, Apr 23, 2004.

  1. jrs3

    jrs3

    USD/CHF has a nice positive divergence on its monthly chart, along with a possible signal line cross. This is meaningful
    on a monthly chart. The signal wont be confirmed until month end.


    Stay tuned!
     
  2. It seems USD/CHF and EUR/USD are very closely inter-correlated (negatively).

    Are there any particular reasons for someone better to trade USD/CHF rather than EUR/USD? :confused:
     
  3. Spitfire

    Spitfire

    OK

    So how will you structure the trade?
     
  4. jrs3

    jrs3


    I don't like to short, and my best risk reward is to trade the dollar long, USD/CHF almost mirrors the dollar future index. Always looking to get long on something that has been falling for many years. The dollar fits that bill.
     
  5. jrs3

    jrs3


    Buy the dips!
     
  6. Do you think margin requirements and ADR would also contribute better profit volume as well? :confused:
     
  7. jrs3

    jrs3

    The last monthly divergence I could find in USD/CHF was in 1987-1988, the price then, was were it is now 12700-13000 range.
     
  8. jrs3

    jrs3

    Buy signal confirmed today on usd/chf monthly chart. Nice divergence!
     
  9. lol.. funny..

    -qwik
     
  10. the dollar failed to close above its 10 period average and closed rather poorly. You are buying on that MACD cross and divergence alone? Actually i am rather bullish for the dollar too, and divergence is significant, it also signaled the top in 2002 . But I need more than a MACD signal. I am not sure it makes any difference going long Swissie or shorting Euro though, I like the long side better too in general but in currencies long and short side are not as different as in stocks.
     
    #10     Apr 30, 2004