Monthly Thread: December, 03

Hi Everyone,

Sell USDCHF now @1.2764,

stop 40 pips, target 60 pips

See the chart.

 

We are coming back to the break line on USDCHF (on friday) which may give a resistance and be the next point to resume the move down. If not, (i.e. if we break through the broken line) I think we may get a stronger correction, and who knows what may that be in the end. I also entered a longer term position with stop at 1.2870 and target seen at 1.2320.

 

Move stops to entry level on longer term trade, move stop to lock 10 pps on short term position.

 

Both positions were closed for now; maybe reenter later.
For now its +10 pips

 

In my opinion if euro breaks the 1.2130 (now we are testing the level as I am writing, it may trigger lower correction to 1.2080, followed by 1.2000 and 1.1950. The trend line since 1.1420 is now at 1.2130, so if we break it, in my opinion we are going much lower for now (best seen on 240 min charts).

 

Here's the chart

 

have just resold the swissy at 1.2765

 

Very nice bounce on both Euro and swissy fron the technical areas. I entered once again both long term trade and short term.
Half position is for 60 pips target and 40 pips stop and second half is for same longer term target 1.2320 with stop at 1.2885.

 

swissy is now at 1.2735/40;
move the stop on short term swissy to entry level; hold the longer term for now without a change.

 

Ok, lock 10 pips on short term trade and move stop to entry on longer term now (swissy at 1.2710/15).