[TW] 01-09-2012 EUR/CHF (Long) by Pinggwyn

[B]Long or Short:[/B] Long
[B]Entry Point:[/B] 1.2130
[B]Stop Loss:[/B] 1.2080 (below 1.2100 and former support)
[B]Profit Target/s:[/B] 1.2400
[B]Reward-to-risk Ratio:[/B] 5.4:1
[B]Risk percentage:[/B] 1%
[B]Indicators used:[/B] 14,3,3 Stochastics

[B]Trade Rationale:[/B]
[U]Technical[/U] - strong support on the daily chart, bullish divergence, Stochastics is in the middle ground, good risk ratio.

[U]Fundamental[/U] - pullback from the euro’s sharp fall, weak Swiss data, SNB’s peg on EUR/CHF (I don’t think they’ll let EUR/CHF go much below 1.2100)

[B]Trade Adjustments:[/B]
I’ll keep a close eye on the SNB’s sentiments on EUR/CHF’s weakness during the following days, but I’m really counting on the central bank not letting the franc strengthen by too much. If the euro still continues to slide heavily against its counterparts, I’ll cancel my trade. If good news started popping out of the region, I’ll go ahead and put up my orders. If I get triggered and price action goes my way, I’ll adjust my stop loss every 100 pips.

Its still pretty much the same as this:

http://forums.babypips.com/readers-choice-trade-week/42095-tw-12-19-2011-eur-chf-long-schnitzel.html

But i guess its a good trade idea anway.