We have been trying to get long of Cable for the last few days. On Friday our money management rules saw us scratch our first “go”, so no harm done there. Yesterday’s move down to 1.5143 stopped us out on our second attempt. Today we have once again suggested a long, which is small offside as we write.
Here is the chart
We write Analysis on a daily basis for over 30 different markets each day. Sometimes a chart comes along that smacks us in the face and says “Buy” or “Sell”. This doesn’t mean there’s a trade to do, as the risk/reward has to be right, as well as the market conditions.
This morning we’ve had one such moment, when looking at
FuturesTechs FX calls have had a good start to 2013 with net profits of 625 pips in January and 540 pips in February.
We recently held a Free 2 hour “Taster” Seminar introducing Candlesticks, hosted by Cantor Index, which some of you attended in Canary Wharf. It’s always nice to meet clients.
We will be organising another Seminar
Trade Idea: Buy USDCHF @ 0.9400
Stop: 0.9370
Target 1: 0.9495
Target 2: 0.9595
Background:
Yesterday we suggested that 0.9400 would be a good place to get long USDCHF, a trade that served us well last week. This trade didn’t get done yesterday but we have got back here this morning so it’s time to get long!
0.9385 was resistance
