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Exiting the Exit Strategy
Bernanke's FOMC will use "disinflationary" reference to containing yields rather than benign growth. Thursday is his 2nd chance.
GBPUSD correlation with equities has fallen recently and I believe you predict it to continue to weaken as more of the moves will be explained by fundamentals with the countries.
just out of interest, how did the this correlation this quarter compare with the longer term figure.
thanks
Ashraf
The CHF/NOK made a perfect SHS formation between October and March, and dropped down to 5,6.
However, it went up again, consolidated between 5,9-5,7 untill May. In May "I should have stayed away". May/June is what I call the end of Bear-Market-rally. Now the consolidation has reached a higher level, bottoms are higher and tops are higher. This is why I expect another top (like the one we had last Monday before Swiss Bank intervention).
Whenever stocks and oil drop, the NOK drop too. No matter if Swiss Bank intervene, CHF is a safe heaven currency, and NOK is not....
Just wondering how high up we will go before Swiss Bank will intervene again.
Regards
Ashraf
I really appreciate your advice with everything. I wasn't sure what you meant by not "waiting to regain" and didn't want to close my position down the way it was. I got in rather late. Also, I have thought about doubling down, but I think you say to never do that. I was curious how that is any different from closing a position down and then opening another one right away, if that's what you were alluding to.
I'm still down, but not overly concerned because of the recent bounce. How do you feel about adding to an open position in this case? That is, with expectations of hitting higher targets. Thanks for your patience and time on this site and personally.
FXHandler, not sure what you mean about CHFNOK in a bear market because the pair has been consolidating since Jan around 5.8-5.9. if you're asking me whether this will continue to go lower, i would say yes so you have the SNB behind you. but be careful because the pair has been attempting to RALLY DURING FALLING STOCKS. So pray for the SNB to maintain your short.
Ashraf
I am struggling with a short on CHFNOK. I was about to sell out, but unfortunately Swiss Bank started selling CHF before me the 24.th of June. So now I am stuck with this short. I shoud have seen it coming. The support line between EUR/CHF is 1.500 and Swiss Bank like to keep their CHF on the upside of this level.
However I am trading CHFNOK in a bear-market... not smart, I know.
The support level for this currency pair has kept on consolidated to a higher level. (I should have got out in May....)
Please, I need your help. How high will the CHFNOK go before it will drop down again?
PS. I lost allot of money on trading, listening to my "expert-brokers". To bad I didnt discover your excellence last year, before I stepped into this thriller.
Best Regards
Bjrn
Sorry if I missed it in other posts, I'm not sure if you mentioned it though.
What support level needs to be breached to cancel out the daily upward trend in USD/CAD? I know you mentioned 1.1510 as support - but I didn't think that was related to the upward channel. Thanks.