Sunday, July 3, 2011

Todd Gordon wants to get long EUR/CHF on pullback to .382 and .618 fibs

Disclaimer:  I do not necessarily agree with these trade ideas.  It is good, however, to monitor how other currency traders or Wall Street as a whole are/is positioned.
 
Todd Gordon of CNBC Money in Motion currency trading wants to get long EUR/CHF on a pullback to the .382 or .618 fib. 1/2 of the position will be added at the .382 fib and 1/2 will be added at the .618 fib.

Trade summary: Long $EURCHF 1/2@1.2075 1/2@1.1970 stop 1.1900 with no target given to calculate R:RW

Here is the rationale behind the trade:


Click here for the CNBC Web Extra video

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