Still room for a correction

FX:USDCHF   U.S. Dollar / Swiss Franc
47 10 1
How strong is the CHF? Stronger than the Euro             now of course. But is is it fundamentally stronger than the USD?
Who knows? At least there is no reason that the Franc fell so steep against the USD. They don't (don't they?) intervene in favour of the weak Euro             any longer. In my opinion that means that the ratios between the Franc and the other currencies will have to adjust and find their real level. So it's time to correct the fall. A bit is done already but I think that there is still some room.
And now I am taking the remaining position out and put the profit in. I have to sleep now. Tomorrow will be another day. The market is calming down here and this may result in a slightly falling price, perhaps. I don't want to endure that.
+1 Reply
Question is, who can afford to trade it?
motleifaul coondawg71
Yes, I can. You better should ask: "Who can effort to leave the best chances unused?"
I used it and I am taking the first part of my fine profit. I am leaving the remainder long in the market.
coondawg71 motleifaul
Nice! But at ten times the margin as before, is the reward worth the capital put at risk?
motleifaul coondawg71
Yes, nice, thank you! It is, yes. The task is not to make many profitable deals but to make some very profitable deals. This one was not as unusual but good enough.
I could ask vice versa: Was it worth to go short and put your money at risk when the market was clearly retracing?
+1 Reply
coondawg71 motleifaul
Good trading then, could be the best trade of the year! I thought this was the best pair prior to the unpegging. And it could prove to be even better now.
motleifaul coondawg71
Thank you, friend, good luck to you as well! Strategies are very different and even completely controversial methods can bring good results.
One of my former bosses had said: Better a bad strategy well applied than a good strategy badly applied.
+1 Reply
50% retracement?
motleifaul jangseohee
Did I say 50% However, why not?
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