EURCHF trade

Published on Sunday October 9th, 2011 at 09:56PM by Tokes

If you'll have a look below you'll see my current trade.

Not sure how clear it is, so I'll break it down.

This is a daily chart for EUR/CHF that I mentioned on Friday. I've gained a tidy 95 pip gain, thus far but I intend to hold this position for a substantial amount of time. I have a positive roll over on the pair which is always nice for these long termers.

But to the interesting parts: On friday the pair broke through the 200 EMA line and rocketed up through Friday evening and the weekend. My limit is set well above the 500 EMA line and I have another position ready to be triggered just about the 500. I am looking to hold this position for however long it takes to reach the massive gains I have set out and so far, all is well. The pair is holding considerably well against all the negative news coming out of Europe so I am sticking to my guns and holding out with the pair.

Hopefully everyone is having a successful Monday and hope you kill it this week,

Good Luck.

11 comments

On Monday October 10th, 2011 at 12:59AM by virgiliolayug - Like - 0 People

What's your target for this pair? It might stall once it hits 1.2500, but i'm also looking to buy on dips. i just missed out on getting in on that strong up move last week haha
On Monday October 10th, 2011 at 03:22AM by Tokes - Like - 0 People

Yeah, I must of been on another computer when I did the original graph because I did have the Fibs line up on the 1.2500. I will be keeping an eye out on that area, maybe even sell half of my position and wait it out to break through or fall before I adjust.

At this stage I'm going to hold out and still aim for the April highs.
We shall see.

I'm right with you on buying with the dips. So far the pair is delivering. Good luck with your trades.
On Monday October 10th, 2011 at 06:20AM by kiloandstitch - Like - 0 People

It looks like it's on a rising channel on the 1-hour now, could be nice to buy on those dips.
On Monday October 10th, 2011 at 09:13AM by Tokes - Like - 0 People

Hadn't noticed but I will follow your lead :P
Thanks for pointing that out.
On Monday October 10th, 2011 at 05:34PM by Tokes - Like - 0 People

Just a quick update on this trade:
On Monday October 10th, 2011 at 05:35PM by Tokes - Like - 0 People

There has been a fall in price action, however at this stage I'm considering it to be a correction, considering it was well and truly overbought.
On Monday October 10th, 2011 at 05:37PM by Tokes - Like - 0 People

The pair has been met with support at the 100 EMA, so all going to plan it will recontinue its move upwards. If not, the pair could carve out it's first negative candle on the daily chart in 5 days. Which noone is looking for :) I won't be stubborn on this and I have moved my stop loss to break even, looking for an opportunity to reenter when conditions are better.
On Tuesday October 11th, 2011 at 02:45AM by buruguduy - Like - 0 People

Good decision. I think this is also a correction, and we'll soon see a move up again. 1.2300 perhaps? not sure yet.
On Tuesday October 11th, 2011 at 03:06AM by Tokes - Like - 0 People

I've pulled the plug early. My system just can't allow me to sit and hope that it's only a correction (although that is what I believe). I'm going to tuck my tail and take my lowly 10 pips BUT keep an eye out for the action around the 200 EMA on both the H1 and D1 charts. If she breaks through support I'll start making moves to short given the current state of the Euro zone. However if we get a bounce back up, I'll buy on the dip.
On Wednesday October 12th, 2011 at 06:35AM by kiloandstitch - Like - 0 People

So.... were you able to get in? That must've been almost a hundred pips from 1.2320. Too bad my long entry was at 1.2300 :( Hope it dips again!
On Wednesday October 12th, 2011 at 09:57PM by Tokes - Like - 0 People

Don't worry, I struck out too. Completely missed it. Oh well.
Plenty of other pairs to work with. Live and learn!