GBP/CHF LONG
LONG GBP/CHF
@ 1.2608
SL @ 1.2388
although it’s a risk on sentiment day, but as mentioned the GBP still had negative fundamental outlook, on top of that, BOE member commented today for possibility for further rate cut - which is nothing new, however, it did create a negative sentiment and we had no movement today.
If the sentiment shifts tomorrow we might be stopped out very soon.
Move SL @ 1.2494
9/29
this is exactly same story as AUD/CHF and we're leaving everything as is, we want to see if the tail can hold off as support and if not, we'll lose 20 more pip.
9/30
this is the same story as AUD/CHF, CHF was largely sold off today due to possible intervention from SNB. The only reason this pair is still alive is that the range is smaller than AUD/CHF.
GBP is still negative fundamentally and unless SNB keeps intervene next week, we might very much get stopped out here as well.
I’m keeping my SL as is and hopefully to break above next week, or get stopped out.
10/3
finally we got stopped out. It was predicted but i was still hoping for a bigger rebound especially GBP had many good fundamental datas and CHF had SNB intervention, so as long as we don’t have any significant news from GBP about article 51, we should be fine...
however, unexpectedly we did had news for article 51 overnight, and of course the negative sentiment pours in to drag GBP down, regardless of another good fundamental data from GBP today.
loss loss 114 pips
- Although GBP is overshadowed by the post Brexit and another possible cut in interest rate, it still has way higher interest rate than CHF and the recent fundamental datas were actually pretty good; meanwhile, SNB has stated the overvalued CHF and will always give any possible intervention to devalue CHF. Price action we have a Bullish Kangaroo Tail with good space and near support.
- No real catalyst but fundamentals.
- We’re in an oversold area.
- The risk is the risk off sentiment continues which will help CHF.
- I’ll manage it technically as we don’t have any datas from both currencies this week that could change the outcome.
- Yes
LONG GBP/CHF
@ 1.2608
SL @ 1.2388
- The risk on had helped high interest rate currencies agisnt safe heaven currencies and GBP went up against CHF.
- I think we should see more GBP strength because regardless of the sentiment, it is due to a rebound technically even if there might be more selling in the future, but of course, the sentiment does help.
- I’m still in this trade because everything works out for now but i’m ready to tighten the SL tomorrow.
- Yes because GBP is still very oversold for the short-term and is really due for some rebound before further selling.
although it’s a risk on sentiment day, but as mentioned the GBP still had negative fundamental outlook, on top of that, BOE member commented today for possibility for further rate cut - which is nothing new, however, it did create a negative sentiment and we had no movement today.
If the sentiment shifts tomorrow we might be stopped out very soon.
Move SL @ 1.2494
9/29
this is exactly same story as AUD/CHF and we're leaving everything as is, we want to see if the tail can hold off as support and if not, we'll lose 20 more pip.
9/30
this is the same story as AUD/CHF, CHF was largely sold off today due to possible intervention from SNB. The only reason this pair is still alive is that the range is smaller than AUD/CHF.
GBP is still negative fundamentally and unless SNB keeps intervene next week, we might very much get stopped out here as well.
I’m keeping my SL as is and hopefully to break above next week, or get stopped out.
10/3
finally we got stopped out. It was predicted but i was still hoping for a bigger rebound especially GBP had many good fundamental datas and CHF had SNB intervention, so as long as we don’t have any significant news from GBP about article 51, we should be fine...
however, unexpectedly we did had news for article 51 overnight, and of course the negative sentiment pours in to drag GBP down, regardless of another good fundamental data from GBP today.
loss loss 114 pips