Thread: Discuss the USD/CHF with a DailyFX Analyst

GBP/NZD Advance Halted at 0.618% Fibonacci Resistance Level- Look for a retest of the 1.9200 area as long as pair can remain below the 1.9379 level (0.618% Fibonacci Resistance Level)

Hey Maurizio! USD/CHF A-B-C Drop Played out- In today's Pip and Run Live trading webinar, I was asked by trader, Maurizio if I was bullish or bearish USD/CHF. I showed a southbound A-B-C correction that unfolded as planned

You can watch that video here: Forex Scalping Strategies: Pip & Run with Greg McLeod 4.16.2012 | Forex Scalping Strategies: Pip and Run with Greg McLeod on Blip

USD/CHF Could Have Further to Fall- Lower High at Point B could indicate decline down to the 0.9050 area

Pip and Trading Results: 10 Trades, 10 Wins +91.8 Pips an 95 minutes!- I started out trading the session to see which pair were "hot" overnight and may have been ready for a profit-taking pullback. With many of the Yen pairs and Euro trading near the top of the Classic Daily Pivot Range of R1, I shorted and re-shorted these pairs for between 3 and 15 pips. 5-minute MACD Divergence helped me to nail price entries for some sweet A-B-C corrections!

Watch Replay Here:
Forex Scalping Strategies: Pip & Run with Greg McLeod 4/19/2012 | Forex Scalping Strategies: Pip and Run with Greg McLeod on Blip


Join me and the other Pip and Runners for all the fun and excitement of live trading HERE at 5:30AM ET/ 9:30 GMT!!
http://forexforums.dailyfx.com/6am-e...tml#post719803

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swissy is getting ready to reverse in the area of but likely not below .8975.

Good Luck

Originally Posted by aerocom

swissy is getting ready to reverse in the area of but likely not below .8975.

Good Luck

Great call aerocom! Do you think the Swiss National Bank is active in preventing the franc from becoming a safe haven?

USD/CHF Trend Weakening- USD/CHF up trend could take a pause as risk appetite returns to the market.

USD/CHF Trend Line Held Despite Negative MACD Divergence

This is the reason negative MACD divergence needs price confirmation before a short can be initiated. A break of a rising trend line or RSI falling below 50 are two confirmations.

Originally Posted by Gregory McLeod

USD/CHF Trend Line Held Despite Negative MACD Divergence

This is the reason negative MACD divergence needs price confirmation before a short can be initiated. A break of a rising trend line or RSI falling below 50 are two confirmations.

This is an extremely strong market and you should only consider longs until about September. But only short term.

Good Luck.

After price increasing to 78% fibonacci retracement level(C),and due to we had time divergence there,
price is going to touch its fibonacci extension's target that is 127%.If we notice
the 50% fork tool and fibonacci lines terrafic in (D),it seems at this crossing area(D) we will
have bullish demands for EURO against GBP.based on the descending trend line (CD) we can
expect a long term price return.

Originally Posted by FOREX in use

[B][COLOR="blue"][COLOR="navy"]After price increasing to 78% fibonacci retracement level(C),and due to we had time divergence there,
price is going to touch its fibonacci extension's target that is 127%.If we notice
the 50% fork tool and fibonacci lines terrafic in (D),it seems at this crossing area(D) we will
have bullish demands for EURO against GBP.based on the descending trend line (CD) we can
expect a long term price return.

Thanks for posting your chart and contributing to the forum. I am quite familiar with the fine work of Robert Miner and have attended his seminars.

Please continue to share your analysis here as it is quite valuable to have a longer term perspective.

FXCM Speculative Sentiment Index (SSI) Statistics:

SSI: GBPUSD Ratio Widens Despite Dovish BoE Report

Hello Traders! Here is the SSI report for today!

Have a great trading day!

The pound dropped like a rock after the Bank of England Inflation Report stated that inflation would hover around 2% for the next 2 years. Interest rate expectations are the chief drivers of Forex rates and the prospects of a rate hike from the Bank of England vaporized.

The pound dropped over 80 pips in 5-minutes from a high of 1.5972 to a London session low of 1.5888.

I went long 1000k at 1.5895, catching the proverbial falling knife, to grab 6.8 pips in 5 minutes. I jumped back in again at 1.5909 as price broke above the S2 Daily Pivot to grab 10 more pips. This trade took a little bit longer at 10 minutes for 10 pips. So I am doing about a pip a minute.

I quickly noticed a similar rebound in the AUD/USD when UK- Nimmy asked for my 5-minute Elliott wave count. When Nimmy asks me for a count, I know there is a trade on her/his mind.

I got long at 0.9905 and limited out 10 minutes later at 0.9915.

I did some scalping in gold but my one-click settings were too tight for the the wider spread on Gold and I was stopped out as soon as I placed a trade. After making the adjustments, I scored 107 so I had mixed results and ended up -2.1 pips


Watch Replay of the Pip and Run live Trading Room Here:
Watch Forex Scalping Strategies: Pip and Run with Greg McLeod episodes on Blip

It was good to see Carol, Joyce, Franosh, Dan, Glenn, Maurizio and the rest of the Pip and Run nation!

Over all we had a great session filled with analysis of various pairs, answered questions, as well as +18.7 pips!

Join me tomorrow at 5:30 ET for Pip and Run !

Happy Pipping!

Greg McLeod
Daily FX Forum Moderator/Trader

As recently started to show some interest towards carry pairs with high yeld, spoted a good develpment in TRYJPY.
Any opinions on this pair and is there a reason not to re bound from the ST. I see it as a bull flag...

MAXJOY

what was this crap. put me into long trade on the very last pip, then slipped past my tight stop.