motleifaul
Long

Closed to early

FX:EURCHF   Euro Fx/Swiss Franc
38 9 1
I had closed my corrective positions in USDCHF             and CHFJPY             to early as I saw to less room for a further correction. The correction is continuing however, but I am still in doubt whether the 50% will be reached. I see more room left in EURCHF             . Economically the CHF proved to be stronger than the EUR but technically the Euro             is more oversold.
It was good to have been holding the position so long. I am closing it now taking the remaining fine profit. Some things take a bit longer to develope.
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ForceFollower motleifaul
I admit, it is amazing how high it managed to climb indeed.
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I am just now taking a first good profit an leave another part of the position open hoping for more.
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ForceFollower motleifaul
Are you talking about your long or short position in EURCHF? It's been veeeeery boring recently - all the CHF pairs. I've been short CADCHF for three weeks. Waiting and waiting.
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motleifaul ForceFollower
You are right. I am talking about my long position. I had expected it to go up further and could have closed it with even better profit.
But now I decided to take at least a part of it as it is so quite that one cannot be sure in waht direction it will go next. With the rest of the position I remain long still hoping of a move in my direction.
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ForceFollower motleifaul
I see. A good decision, esp. as it can develop like that:
snapshot

snapshot
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I can see still strength in the ongoing correction. It doesn't seem to be done yet. It's probably going to test the last swing high, which was just below 1.06.
+1 Reply
Hi, motleifaul! Sure, it's been a very long and boring correction. Don't you have a feeling it's going to be "pushed" (or "pulled") again to parity? Something like that?
snapshot

snapshot
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motleifaul ForceFollower
It sounds reasonable. Not that the SNB wants it there. I think that the will smooth the way there by interventions from time to time. But the market speculation may press it towards the parity just for to check the SNB's abilities. That's why I am working with tight stopps for to avoid beeing cought on the wrong leg.
+1 Reply
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