timwest

FXF (Swiss Franc) revisited - reasonable to exit here 108.55

AMEX:FXF   CURRENCYSHARES SWISS FRANC TRUST
336 2 2
This chart is COMPLETELY UNTOUCHED from its original publication a month ago. I added the RED "ENTRY" and "EXIT" circles to show the trade.

Swiss Franc followers may look at this lift to a new breakout as a decent place to exit longs established against massive support down under the 104 level. I don't have any news to help justify the exit, but this is a decent 4% gain in a month for a very low risk position and upside potential from here is roughly equal to the risk, which means that this is NOT a good place to establish a position. So, if I wont buy more at a given price, then I will usually exit my position. I don't believe in using trailing stops on this position, so I would simply advise to exit longs. Cheers. Technical Tim, Feb 9, 2012, 10:19AM EST
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nice trade
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timwest PRO charttrader
Thanks.
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