Last weeks fall from the 1.70's was an incredibly good short. To bad I missed it. After such a large fall I am still long on this pair but as mentioned before the timing will be important. It is important because this pair can whip you out of stops very fast so one must be careful to not enter to early and jeopardize a stop. Timing on this pair will be best entered when the stochastics are turned around and heading back up. MACD should be crossing Zero. Although you could enter a bit early if you see the macd turning early enough. Be sure to monitor it and raise your stop when you get the chance to as this long is deffinitely a "counter trend" trade.
Sunday, December 28, 2008
GBP/CHF: Free Fall Ending?
Last weeks fall from the 1.70's was an incredibly good short. To bad I missed it. After such a large fall I am still long on this pair but as mentioned before the timing will be important. It is important because this pair can whip you out of stops very fast so one must be careful to not enter to early and jeopardize a stop. Timing on this pair will be best entered when the stochastics are turned around and heading back up. MACD should be crossing Zero. Although you could enter a bit early if you see the macd turning early enough. Be sure to monitor it and raise your stop when you get the chance to as this long is deffinitely a "counter trend" trade.
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