EUR.CHF

One of my systems has triggered a
long on the Eur.Chf
I would prefer to see dual confirmation,
however there is often a decent day trade
available from this signal.

Please note. My intention is not to offer any form
of investment or trading advice whatsoever.
The system I have detailed above could easily fail
miserably at any point. If you choose to follow this
system be aware that you do so entirely at your own
risk and that I cannot be held responsible for any
losses incurred.

50% sold for 100 pips.
Balance stopped 7/4 out at break even.

May be forming a double top on daily
Hasn’t touched top of channel yet, but UOS may give a clue
Worth keeping an eye on

Cheers
Slam

Hi Slam

Although the plot has reached the first destination
based on a near perfect Butterfly pattern, its worth
considering there may still be a little more juice
left in the tank.

Major Gann is dug in and ready to repel invaders
at 1.5503 - which could tie in nicely with the
downtrend line from 4/2, but he also has a small
band dug in btw 5441 & 5472 who could cause a few
problems.

Watching - No position.

Thanks arco
I get channel top at 1.5499 so could fit nicely

slam

shorted from 1.5720 ...

i've been getting long signals on this from the 3 line break chart, already closed one out for +40 but am in again now at 1.5768 , tight stop say 10-15 pips max.

Hi Peat

3 line break on the daily looks bearish.

IMO it could be in the process of forming a EW535 - heading south, north, south making an a,b,c correction. Target 1.5500-5570 perhaps.

Just my thoughts

arco

http://img97.imageshack.us/img97/1810/0426063lb5er.gif

yeh strange how the daily 3LB is still pointing down given that the 4hr has a number of ups (over 6 of them) . Weekly is up too.
Anyway, I've got another 50 pips on this overnite so I'm happy , have raised stop to 1.5798 to lock in 30, no sign of a turnaround on any of the shorter time frames yet. May as well ride it till it breaks.

Morning Peat

Nice trade.

Minor Gann levels at 5833-5839 - may be worth
keeping an eye on.

regards - arco

stopped +30.

Morning

5827 was the high - so Mr Gann repelled the invaders
as only he knows how.

The EOD candle was a Dark Cloud Cover - usually bearish,
so maybe the 5-3-5 is definately in play.

GTA - arco

Its on the move south, limit short triggered at 5772
while I was out having a beer.

+56

mmm....nice overnight surprice... now +116

Good Weekend to all

arco

thats a pretty steep drop...
i cant see your wave formation but in hindsight I can see a bearish gartley X = Apr 4 A =Apr 19 B =Apr 21 and C= Apr 25 D = Apr 27.

Still moving south and currently +170

But there should be a retrace soon,
so a very tight stop now.

arco

Sold at 1.6139 after the cross occurred above the cloud , bought back Sat morning 1.6073. The stop was at the recent high of 1.6168

This 1 hr analysis did give me conviction during the trade especially when price crossed through the cloud after the tenkan cross it got support just below the cloud to re-enter,but never managed to go above it again and the fall continued

http://img168.imageshack.us/img168/3...6012007zz7.jpg

Theres an ascending triangle here so have gone a little long with 25 pip target 15 pip stop.


http://img213.imageshack.us/img213/9...9012007fx9.jpg

heading in the right direction, stop moved to just below break even now... will stay conservative with the target tho.

and now closed for sleep at +24

a perfect playout of the plan

Iwas looking at the useful site arco posted trending123.com.
I have never really been familiar with the cup and handle formation so was reading that when lo and behold I spotted one in Eur/Chf on the 30 minute timeframe.
http://img528.imageshack.us/img528/8...9052007lb6.jpg


so last night I took a long at 1.6524 stop tight at 1.6509 , not sure of the target for this formation so went on a r/r ratio of 2:1 aiming for 1.6555

Following on with the 3 line break type chart as shown before
on this thread which gave us a nice number of pips.

Looking again now IMO its possible Eur.Chf is setting up for a fall.
The last long black candle is called a 'Turnaround Line'.

The layout of the chart should be fairly self explanitory, with
Butterflies seeming to be in agreement.

This may turn out to be a longer term trade for patient pippers.

GTA - arco

Update.

(I have also mentioned this on the longer term thread).....

.......currently circa 350 pips from the original post 1/11.

Eur.Chf may still be on track for a move to the region shown in the previous chart.

After the recent ABC retrace north, which has created the red BF, it looks like it may be time to scale in some low risk shorts again.

Potentially 5 waves down to the 1.600 region to complete 'C' and target 700+/- pips.

rgds - arco

Action appears to have turned nicely in the green box (see previous chart) producing an Evening Star on the daily chart.

2 positions got filled overnight at 6670/6640 and will leave
them running over the weekend.

current price 1.6385 so your first target has been reached arco.
I need 83 pips more before my TP is triggered at +1.63 , currently +317.

forex never ceases to amaze me.

1.6300 take was hit during last night for final portion of this short closed at +402.

Quote:

---

Originally Posted by arco

12/12 Eur.Chf may still be on track for a move to the region shown in the previous chart.

After the recent ABC retrace north, which has created the red BF, it looks like it may be time to scale in some low risk shorts again.

Potentially 5 waves down to the 1.600 region to complete 'C' and target 700+/- pips.

rgds - arco

---

Action has entered the target area...................

have gone long from 1.5990 at 1900 hrs

it hit arco's target area did a bounce of 400 pips then retraced 300 (looking at daily's) . and looking at 15mins from todays low of 1.5960 at 0830 went up 40 and retraced 30, so thats a couple of 78% ish retracment moves without a new low
playing the small one with 33 pip stop at 1.5957. if this fails will try playing the bigger pattern at 1.5916 with 100 pip stop on that.

+30 at the mo.

traded a bit of the ups and down to help but in the end have now been beaten on this one....

Eur$ was the better one by far huh Paul - well done , dont worry I had some of those too, closed half of that +100 , also had a small short USD/CHF to hedge as this Eur/Chf started to struggle, closed that +50 as Euf/Chf stop was hit.

wins and losses.... overall things are growing tho, and perhaps I'll get better at reducing the latter

looks likely bottom in

bullish piercing pattern with some fib action and a harmonic pattern

divergence on rsi

looking to get a long entry in next week

Hi All

If you check the chart in post #23 and compare todays
chart you will see our little red BF on Eur.Chf did us proud.
Plus it then came up with an ABCD follow through.

Now we appear to have a monster blue printing, so keep
a watchful eye on this potential BF for a reversal pattern.

GTA - arco

Quote:

---

Originally Posted by dumbass

looks likely bottom in

bullish piercing pattern with some fib action and a harmonic pattern

divergence on rsi

looking to get a long entry in next week

---

stopped and reversed last night for 600 + pips

i reckon tops in on the zig zag abc a= c + some favourable candlesticks

so hopefully ride down for another 600

it has now done a fairly perfect bearish gartley from the 1.6350 top , down to 1.6050 then the .618 up to 1.6240 and now .78 up to 1.63

Hi Peat

Yes, starting to look interesting now.

overnite upward has now been undone .... in reasonably quick time too, maybe this time down will commence in earnest....

tryin to get a leg in on a micro time-frame gartley (1 min candles) that played out as a butterfly but stop wasnt quite at X and with such small scale didnt take me out. small risk for a possible turn

nope the micro gods werent with me out -7

From ABN Amro

The

Swiss central bank cut its interest rate close to zero
and started buying foreign currencies to stem the franc’s
appreciation as the recession sharpens and deflation looms.
The franc plunged the most against the euro since the single
currency was introduced in 1999 after the Swiss National
Bank in Zurich lowered its main lending rate to 0.25 percent
from 0.5 percent. The SNB also said it would buy corporate
bonds as well as currencies in its first solo intervention in

foreign exchange markets since 1992.

whats next? looks like a big scale coil !

Could be trying to break up through the Kumo. (First test failed)

Seeing higher lows on the weekly and a glimmer of bullish forward Kumo .

http://i27.tinypic.com/2q8y3vo.gif

Could be interesting on a bearish reversal pattern.
Chikou is through on the H1.
Possible 3 falling pattern developing H4.

No position as yet


http://i29.tinypic.com/152cjev.gif

http://i25.tinypic.com/312yfer.gif

GTA -arco

Got taken in but movement very slow at the moment

http://i37.tinypic.com/iqjx2v.gif

Quote:

---

Originally Posted by peat

whats next? looks like a big scale coil !

---

the compression perfectly continues......

Quote:

---

Originally Posted by peat

(Mid Sept 2009) whats next? looks like a big scale coil !

---

well I guess , (with hindsight) that it was pretty clear that the massive coil broke by late Dec 2009 when 1.5 got taken , and ever since then apart from that huge spinning top day (when the SNB got involved ) its been all down. Interesting to come back and see what history shows us!

The SNB is defending the franc at 1.20 it seems
but I tend to agree with the following comment
"The move now should work in the short term, but in the long term they are providing investors who are looking to exit the euro zone debt crisis with an easy route."

Will the Swiss franc crisis bring more problems to the financial world?

https://uk.news.yahoo.com/broker-alp...2.html#anJ88Ub

Swiss franc surge rocks currency brokers, burns banks

Chalkie reminds us that forex trading is a mug's game.

http://www.stuff.co.nz/business/opin...lap-over-forex