Ticker 1

Ticker 2

Click "Like" to Receive First Hand Updates From The Analysis Site / Click "SHARE" to share

Tuesday, 24 May 2016

EURCHF Technical Analysis For Your Learning: 24 May 2016, Tuesday, 2.30am Singapore Time

EURCHF Technical Analysis For Your Learning: 
24 May 2016, Tuesday, 2.30am Singapore Time

Attached above is the EURCHF Technical Analysis.
Refer to the recent past live analyses in February and March 2016 when I said I would be shorting the EURCHF on the bearish wedge breakdown which I deemed to be a reliable breakdown and for which I deemed to be a good reward-risk ratio:

I have made the decision to cut all losses in this trade tonight (Singapore Time) for risk management purposes.

Main consideration:
Swiss Franc is weak beyond my expectation. Seems like SNB's negative interest rate and Switzerland's preposterous idea of even giving out free money of US$2,500 per month (S$3,485 a month) to every Swiss national for doing nothing (unconditional minimum income) is having some effects. This is as good as flushing boatloads of Swiss Francs down to the main street.
(Reference: http://www.bloomberg.com/news/articles/2016-05-23/one-of-the-world-s-most-expensive-countries-is-debating-giving-away-money)

Full technicals as illustrated on chart.

Above are the losses in (SF) Swiss Francs (CHF).
Below are the losses converted into (SD) Singapore Dollar (SGD).

Losses in this trade:
- S$ 57,586 SGD

S$ 1,212,501 - S$ 57,586
= + S$ 1,154,915 SGD

Trading Journal:

No comments:

Post a Comment