Comments on: Big levels nearby in CHF pairs

By: Sean Lee

Sean Lee — Thu, 30 May 2013 06:50:40 +0000

Yes exactly Danny, totally depends on mkt conditions

By: Sean Lee

Sean Lee — Thu, 30 May 2013 06:50:04 +0000

Yes Lio, apologise for the market short-hand

By: Danny

Danny — Thu, 30 May 2013 06:01:06 +0000

Sean,ignore my question. sometimes i dont even know what im asking. with these sort of volatility, 50 pips is nothing (provided i can take it).

By: Lio

Lio — Thu, 30 May 2013 05:56:39 +0000

Hi Sean,
What do you mean by “long liquidation” ? Bulls to cut their loss below 9590 ?
Cheers,
Lio

By: Danny

Danny — Thu, 30 May 2013 05:39:38 +0000

hi Sean,
What would be your normal trailing stops (in pips)?

By: Sean Lee

Sean Lee — Thu, 30 May 2013 04:44:23 +0000

No worries Jasper, we all are faced with same problem and if I had a $ for every time I’ve been stopped out at lows and highs, I’d be a rich man!
I for instance have my trailing stop-loss at 9575. If it spikes lower and straight back again, then I will consider buying back in again

By: JasperD

JasperD — Thu, 30 May 2013 04:34:24 +0000

Hi Sean, here’s a novice question to ask you: with USDCHF sitting only <20 pips above 9590 support, where should I set the stop? If I set at 9580, then I run the risk of getting stopped out on a false break. Many times to my frustration ccy pairs overshot by 20, 30 pips or more over support then reversed, leaving me selling at the worst possible level. Thanks!

By: Nachiket

Nachiket — Thu, 30 May 2013 04:10:51 +0000

pullback from 0.9596. interesting. dead cat bounce. more pump before a dump

By: Sean Lee

Sean Lee — Thu, 30 May 2013 04:00:25 +0000

Yes agree Nachiket, cud be nasty below there

By: Nachiket

Nachiket — Thu, 30 May 2013 03:45:32 +0000

just checked sean. i have to change my view. trendline break is a big negative the rising trendline for days is broken and now 0.9601 is real support for this pair

By: Sean Lee

Sean Lee — Thu, 30 May 2013 03:43:49 +0000

Nice pick yesterday Yass. I think we can be patient, might see prices close to 9800 in next few sessions? Prob still few shorts out there i

By: Yass

Yass — Thu, 30 May 2013 03:36:38 +0000

Hi Sean, after watching todays price action in Aussie $ what are you thinking? Do you think a short around 0.9720-30 or 0.9680-90.
Yesterday we did clean out most of the short stops and do you think now it will run some stops on the upside to 0.9830-40 levels perhaps.
Thank you

By: Nachiket

Nachiket — Thu, 30 May 2013 03:35:22 +0000

The trendline break at 0.9612 is a big negative for this pair today. If it rallies it has to rally against all odds. if GDP data is positive we will see 0.9558 and we can buy there

By: Vivien

Vivien — Thu, 30 May 2013 03:24:00 +0000

Thanks Sean

By: Sean Lee

Sean Lee — Thu, 30 May 2013 03:17:38 +0000

Hi Vivien. These basing or topping formations are very powerful when they form properly. This isn’t exactly perfect but could still work. I would wait for a break, then wait again until the neckline is re-tested. If it holds the re-test then you can enter with a relatively tight stop above the level.
Lot of waiting involved but that is an FX trader’s lot!

By: Vivien

Vivien — Thu, 30 May 2013 03:07:39 +0000

Hi Sean
Is it worth shorting at break of 9585 ??