Hi. Its not certian yet, but very possible - sell of gbpchf and buy og eurgbp. No orders - only live entry. Though, orders are also possible. First lets make sure this correction is not more than correction. Good Luck.
Monsoon, my opinion on cable is very clear and was correct in my pre-opening analysis. I stick with it for now. What we got this first day of trading once again proves how uncertian market is at the moment, and I think at the moment further upmove is possible...but its very mixed to talk about it. I prefer watching it at the moment. Most secure trade at the moment, as far as I see is the one I'm holding - short eurchf. About the formation - its mainly indicationg or consolidation or maybe even move higher. But as I mentioned on weekly comentary - the fall was very strong to end just like this. One proove for that was the low levels we got today. But market once again showed its uncertanity and pushed the price even higher than fridays' top. Sorry, but I dont concentrate on currencies when they are that mixed. And cable is very mixed at the moment. GL.
Eurchf trade was stoped with 68 pip loss. I have nothing to look for - at least today. So I'm going out now, have some time away from the charts. See you tomottow - maybe there will be some interesting action. Performance: +50.2% ytd +2.9% mtd Good Luck and Good Trading. Rezo.
Hi Rezo, you're doing a nice job here, congrats ... It's a little too conservative for my psihology but it shure works. I see that you target large moves ... that's ok. But what happens if, at the begining of trading an account, you have a bad luck and cash out some consecutive S/L's? How was the begining of your trade? I mean if I would cash some 200, 300 pips in profit as for my first trades, I would gladly risk 100 pips loss with a S/L ... Regards,
Hi, Victor. Well, you see, my average risk per trade is 2%...and thats the reason my trading is safe. Also, I use stop movement after price goes in my direction, and thats the reason more than 20% of my trades are closed at breakeven. Sure, sometimes these bereakevens turn out to be good trades - for ex. I missed about 400 pips this month only - on swissy and eurjpy. Both were opened, and stop moved to breakeven after 80 pip and 100 pip moves respectively on swissy and eurjpy in my favor. But the price came back to my entry price, and resumed move in my favor, reaching my targets. But thats ok, as I get to minimise risks like this. I made calculations and deeper described it on other forum (for ex. wouldnt it bebetter to move stops closer to ensure profits and so on). If you interested, pm me, and I wil link you. Regards, Rezo.
Resell of eurchf @1.5440, stop @1.5460. tgt 1.5380 Risk is 0.58%, reward = 4.69%. Not in my style, but the ratio is very good.
Possible trade is short gbpchf around 2.1770. Not certian yet. Need couple more hours for confirmation. Trade is a bit risky, and stop big, but app. ratio is ~ 1 : 6. Target will be 2,1250. Stop around 2.1860. So lets wait for as high entry as possible. Risk ~ 2.5% Reward ~15% Exact numbers will be defined after the entry. Another possible trade to look at is long eurgbp. Possible entry area 7080, stop around 7040, targeting 0.7220. Ratio 1 : 3.5. Once again, no orders. Waiting for confirmation to enter. Reward ~ 4.5% Risk ~ 1.3% best