Nov 14, 2016 - (Forex) Weekly Tech overview: CHFPLN ( Update )... 5% or 2000+ pips up since our call 2 months ago...

Hi All,

CHFPLN was a great call and it's time ( in my opinion ) to make an update and take some profits.

Two months ago ( 13th September ) we published it first time ( and it's still available here ) and it's up 5+% or 2000+ pips and then again just few days ago, before US Election as our "Election Trade" if Trump wins ( available here ) and this one is around 1000 pips up.

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Why do we think it's time to make an update ?

Reason 1:

With EURCHF well below 1,08 ( testing 1,07 currently ) we do expect SNB intervention,

Reason 2:

As we are approaching end of the year with overall weak PLN we do expect NBP ( Polish Central Bank ) may intervene in the market as well to support Polish zloty,

Reason 3:

Daily chart below showing correction is possible:

So because of all the three reasons above we do think it's time to take at least partial profit ( and I don't mind to take 75% instead of usual 50% and waiting with cash for intervention to rebuild the position ).

Please let us know should you have any additional questions or you would like to discuss other crosses as well. We are here to help you, just contact us at: landoftradingATgmailDOTcom.

Mr Price Action

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