Inside the Currency Market: GBP/CHF Trade Recommendation # 8

Sell GBP/CHF at 1.5088 to 1.5034, + 54 pips.

This pair is considered a "Dollar pair" , a US dollar since essentially it moves in conjunction with US Treasury Bonds. Further its a combination pair that matches Swiss Confederate Bonds with UK Gilts. Therefore a "safe " currency trade that lacks risk elements such as the EURo, GBP, AUD and NZD.

Current averages are positive except for the 50 day which is slightly negative. The target here is the 20 day average that sits at 1.4969.

Trade total reviews accompany next post, My friend Peter calculates what + 375 or so in 7 prior trades in 8 trading days

I'm Brian Twomey, Inside the Currency Market, reviews, book, FX Trader Magazine interviews and contacts are found at btwomey.com

2 members like this

Comment by Brian Twomey on November 7, 2012 at 8:00am: GBP/CHF came within 6 pips of 1.5034 target from sell at 1.5088 Friday. Hit 1.5040 so far, + 48 pips. Target should hit within hours. Of 9 trades, 6 hit targets, 3 still open. Pip totals= + 400 ? close

Comment by Brian Twomey on November 7, 2012 at 2:08pm: GBP/CHF sell at 1.5088 Friday to 1.5034, + 54. Target hit for + 54 pips. Bada Bing, Bada Boon

Comment by Peter jcp on November 7, 2012 at 2:47pm: Well Done Brian - credit were credit is due and you have also hit your GJ target as well - and so near the EJ that could be anytime soon ? - could be treble celebration today for you ;-))

Comment by Brian Twomey on November 7, 2012 at 3:06pm: No Peter, 127.02 for GJ on both the sell at 128.64 and 127.60. It will hit, no problem. EJ came within 9 pips of target. That's coming too, no problem. GBP/CHF is cleared, that's good . You see it dead stopped at 1.5034. That was the plan.

Comment by Peter jcp on November 7, 2012 at 3:15pm: Just rechecked - yes 127.60 was entry - not the target on GJ- so my mistake here - and the GBP / CHF was impressive - hitting target to the pip - and then retracing back up over 70 pips - your calculations obviously all worked out exactly there.

Comment by Brian Twomey on November 7, 2012 at 3:41pm: Peter, Two entries on GJ, 127.60 and 128.64. Both have 127.02 target. Don't know what's holding that pair up. The numbers are perfect for the target but motion is needed

Comment by Peter jcp on November 7, 2012 at 3:52pm: GBP /JPY - I have it presently stuck in an approx 30 pips range with 127.50/55 support. If it break under say under 127.47 and then 39 then good chance it broke down for your target.

Back over 127.85 and 92 - and its scalp buys again for me - Not in a trade on it atm and out for 2 hrs - but hope it does break down .

Regards

Peter

Comment by Brian Twomey on November 7, 2012 at 5:31pm: Peter, GJ should've followed the path of EJ straight down this morning and all prior days since the reopening from the two day close. Those supports at 50/55 are minor and should've broke. No doubt my targets will hit, but it should've hit already especially at the time I made the call from 127.60. Here's the patience game again.

Comment by Brian Twomey on November 7, 2012 at 5:51pm: Hi Grigore, Thank you my friend. What 9 of 11 trades, 50 pips or better and all targets hit for ? 400, 500 pips. I lost count

Comment by Alan Hill From Sarrafx Trading on November 7, 2012 at 6:46pm: Do you have unrealized losses on any positions? If so, what is the current net on this exercise?