AUD/CHF LONG
LONG AUD/CHF
@ 0.7465
SL @ 0.7335
10/ 4
We had a very significant bearish kangaroo tail today which worries me about this trade.
Fundamentally and sentimentally, AUD is still much better than CHF, but looking at the price action, the pair did went up and tested the resistance, and now it had a reversal signal.
Perhaps the entry for this trade was never low enough to give us enough risk/reward ratio, now i think the possibility of keep upside is capped and the possibility of retrace downward has increased tremendously, therefore i decided to get out at almost BE for now and wait for a better entry in the future.
got out @ 0.7454
total loss 11 pips
- Fundamentally and sentimentally, AUD has been performed well than CHF. Now of course, this pair is the polar opposite in terms of risk sentiment but we’re expected to see AUD continue to surge after this week’s rate decision which should be on hold. We’re also expected CHF to be sold off should anything happens, as SNB still has the power to intervene and it does all the time.
- The catalyst was the intervention from SNB and genially positive sentiment tone.
- We’re in the range bound now.
- The risk is the sudden rate cut by RBA
- I’ll manage it with sentiment.
- yes but only if i get filled by Monday 5pm.
LONG AUD/CHF
@ 0.7465
SL @ 0.7335
- The market reacted positive for AUD and continued to edge up.
- I think the RBA decision and statement tonight will give a big impact on this pair, nevertheless, even if RBA cut the rate unexpectedly, AUD still has better rate than CHF and better fundamental strength. However, we never know how strong the short-term negative sentiment is going to be and whether we can survive through that.
- I’m still positive both fundamentally, sentimentally and even technically for this trade.
- Yes i’ll still get into this trade but perhaps i’ll wait after the rate decision.
10/ 4
We had a very significant bearish kangaroo tail today which worries me about this trade.
Fundamentally and sentimentally, AUD is still much better than CHF, but looking at the price action, the pair did went up and tested the resistance, and now it had a reversal signal.
Perhaps the entry for this trade was never low enough to give us enough risk/reward ratio, now i think the possibility of keep upside is capped and the possibility of retrace downward has increased tremendously, therefore i decided to get out at almost BE for now and wait for a better entry in the future.
got out @ 0.7454
total loss 11 pips