GBPCHF is only for a few traders?

Still short, that was an expected fake upside, 240 is still in charge and IMO a nice downside is around the corner now.
 
After the recent move I think this would be a decent spot to start building a long position. To me this is a good trade because it's low risk. If it moves below 2.38 I would start to worry a bit. It topped twice in this area back in early 04, but to me this doesn't seem like another. Good luck.
 
romik...what are you waiting for? It does not get much better than this/ in this short of a time?....(I have been wrong before though...hehe)

Quote from romik:

Still short, that was an expected fake upside, 240 is still in charge and IMO a nice downside is around the corner now.
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Quote from ElectricSavant:

romik...what are you waiting for?
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The bearish divergence on 240 is still valid & in fact has now become a quad one!!! How ridiculous is that, watch out, it is not going to tank, it going to sold massively :)
 
I would have liked to see you bag some.... then on the 50% retracement get back in but at at a lower exposure for the second move...look at the 15 minute...

different styles for different traders...there really is not a correct way...

please continue, we are all pulling for you....


Quote from romik:

The bearish divergence on 240 is still valid & in fact has now become a quad one!!! How ridiculous is that, watch out, it is not going to tank, it going to sold massively :)
More...
 
Quote from ElectricSavant:

I would have liked to see you bag some then on the 50% retracement get back in then at a lower exposure for the second move...look at the 15 minute...
More...

No thank you, I am holding this trade upon a very serious conviction based on what I have seen in the past & this one is one of the best!

A lot of serious volatility is 240 based IMO in FX and to see such a classic divergence together with H&S and an anticipated fake upside squeezing weak hands out of the trade, I tell you, they'll have to show me a lot more than yet another failure break.
 
Folks. it's interesting to notice the diologue between traders. I love it when traders interact with one another. I learn a lot.

Each trader has a reason and a plan. Different styles get reflected and the thought processes get revealed.

I believe ones Holy Grail is personal....just as romiks trade is thought out with a plan and is personal. romik is experienced enough to have a style and is serious enough to illustrate it. He is able to look at the GBP/CHF in the future and maybe with an opposite direction...its true traders schizophrenia...he is able to put on the correct hat for the occasion.

Thanks for the posts romik.

Michael B.
 
Thanks ES, like yourself, I am always interested to observe what others are up to, especially if they are taking the other side of my trade & are willing to provide reasoning.
 
Let's hope this is not a new stairstep 15 minute climb up for romiks sake....I am not in this trade this week...so I am cheerleading :)

who knows...it may not stop at a 50% retracement...

the 15 minute curivilinear says up...and even worse it is a virgin arch...it also agrees with the maturing daily arch.
 
Quote from ElectricSavant:

Let's hope this is not a new stairstep 15 minute climb up for romiks sake....I am not in this trade this week...so I am cheerleading :)

who knows...it may not stop at a 50% retracement...

the 15 minute curivilinear says up...and even worse it is a virgin arch...it also agrees with the maturing daily arch.
More...

But how would rank a signal generated by a 15 min frame in comparisson to a 240 min one. A signal on 240 provides a lot more maturity, which takes days and sometimes weeks in comparison to something which was born today and will either die today or tomorrow :)

2.3916 is still resistance at the mo looking at the weekly frame
 
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