Dude, the EUR/CHF has broken several important resistances and notes at a long-time high of 1,3188. A lotta experts say that the CHF is finally gonna lose ground and that's the start of the break of the economic trend.
Would you think it's a good idea to go long now with a bigger investment? (5 fig.)
thx in advance
I'm neither a swing or short term trader, nor do I follow that pair. In fact I have no exposure either way at the moment with EUR or CHF. I'm more of an arbitrageur and position trader. I don't believe in "resistances", it's a terminology invented by the powers that be in order to pretend that there's some formula to predict the market based on past movements, and to confuse and make ppl think things may go 1 way and then they'll reverse the market when it's worthwhile for them to do do. The "powers" meaning the banks, hedge funds, etc collectively.
What I do know, is that the market is cyclical as is the business cycle, and the moment a cross hits an all-time high and all the experts say its going to go even higher, it may rise a little bit more or even moderately to get as many people on that "trend" bandwagon, another word invented by the powers to delude people into thinking things will go a certain way even tho the market is as random as flipping a coin heads or tails cuz its basically all bout SENTIMENT. That's all the market is: a collection of minds. And things usually eventually go the opposite of popular opinion. The moment everyone or almost every1 think its going 1 way, for example up, thats when it will reverse, and make HUGE down moves very quickly.
The key in this market is to figure out what 99% of the market is doing, AND DO THE OPPOSITE.
In other words, the moment the experts and everyone says it'll go up, thats the popular opinion, all time high no less, and every sheep and lemming takes the up position, it may rise a bit just to make ppl feel more comfortable, but eventually the fall will be so intense it will break your bones. It's all random, all cyclical and thats how it all works. Based on the info you've given me, I would begin taking positions SHORT and gradually adding on if it goes up a bit just to make the masses feel confident they made the right decision before destroying them all.
Don't be a lemming or a sheep, be the shepherd. The 1 guy who controls the 100 sheep, he makes the rules. He's the power that be. Who He is, is the collective aggregate position of the commercials, or the "smart money". He will never tell u what he's going to do, he will never tell u what u need to know, usually the opposite.