Comments on: EUR/CHF: Longs re-instated at 61.8% retracement

By: Sean Lee

Sean Lee — Tue, 05 Feb 2013 19:43:40 +0000

The JPY has caught me out a few times as well Kirill which is why I’ve been sticking to the less volatile USD/CHF, EUR/CHF and EUR/GBP. I think we are all pretty sure that this Yen move sill eventually stop dead in its tracks and the crosses will play catch up (CHF/JPY back to 92/93ish ??) but the swings are a killer as I well know. I wish I could say with some degree of certainty that we wont see 105 in CHFJPY but I cant. Break higher in USD/JPY leg is a worry?

By: Kirill

Kirill — Tue, 05 Feb 2013 19:10:12 +0000

Action of last 24 hours made sure that Mona Lisa smile stays way above all lowly cornflake boxes)))) 200pips in the face is somewhat harsh, but at the end of the day I was expecting shakeup. CHF is reigning supreme against JPY…. Having some doubts now….

By: Sean Lee

Sean Lee — Mon, 04 Feb 2013 22:45:35 +0000

This is exactly how I like to trade Kirill and when it works out it makes the Mona Lisa look like the back of a cornflakes box 🙂

By: Kirill

Kirill — Mon, 04 Feb 2013 22:40:29 +0000

Will see. I feel comfy with this one that means there will be shakeout. But if it plays it could be awsome entry to chf/usd. I am playing it through usd legs. If jpy/usd will get down to 88-90 i will drop it and will try to ride chf/usd… Theory looks good, will see what the market would present us …

By: Sean Lee

Sean Lee — Mon, 04 Feb 2013 22:23:47 +0000

Love this trade Kirill. The great thing is that if you get timing right, the move in your favour will be sweet and swift 🙂

By: Kirill

Kirill — Mon, 04 Feb 2013 22:05:35 +0000

Sean, After meditating over your talk about CHF, I decided to try CHF/JPY short. In short yen is oversold, CHF is expensive, sounds like a reasonable trade. If we assume that yen correction has started do you have any feel on the depth of retracement? My initial goal is around 98.