Trade Closed: 2008-01-04 18:07
Our trade closed as EUR/CHF dropped, after a quick pull back, to our adjusted profit target at 1.6350. Markets saw a return to risk aversion after today’s US Jobs data signaled a higher probability of a US recession and speculation this may lead to a global slowdown.
1st Trade: -80 pips/ -1%
1st Half: +70 pips
2nd Half: +245 pips
Total: +315 pips/ +1.57%
So, we recovered from our first losing trade with a net gain of +.57%. It was a long wait, but we still managed to eek out a profit and start the new year off right. I hope everyone did well on this one. Have a great weekend!
Trade Adjustment: 2008-01-02 12:41
Our remaining position has hit our second profit target, but instead of closing the trade we will adjust our stop and go for a new profit target.
Adjust stop to 1.6495, new profit target at 1.6350
Trade Adjustment: 2008-01-02 08:00
It appears that the Swiss Franc is kicking butt against the majors this morning, but Euro buying has limited its move at the moment. With such strong Euro buying going on in the markets now, it is unclear on where this pair will head to next, but for now we will hold onto our position after we have taken some profit at 1.6525, and move our stop on our remaining position to break even.
Trade Update: 2007-12-28 08:50
We still have a few more days left in the year to see if the pair will drop further on momentum, so we will hold on but probably close on the last day of the year. So, stay tuned and we will see if the Swissy strengthens further. Good luck!
Trade Update: 2007-12-20 12:00
So, with the pair trending lower once again and with slight profitability, we will continue to hold onto this position.
Stay tuned for updates…good luck!
Stop and Reverse: 2007-12-18 10:30
Since the stop out, the pair has retraced back to 1.6600 which I think is a great place to short as the pair looks like its reversing the trend.
Remember to keep the risk per trade no more than 1% of you account. Good luck!
Trade Idea: 2007-12-12 12:49
The trend is pretty strong and there’s really nothing in the way until 1.6825 where we last saw resistance at the end of October. And with the ECB holding on interest rates recently, going long on the pair is supported with positive carry.
I am going to wait for the pair to dip a bit before jumping in long:
If our trade hits our first profit target, stay tuned for stop adjustments as we target 1.6800. Good luck!