Updated: Aug 1
LogicStrategy™ Forecast CHF/CZK
The start of March was a great month for Logikfx members. On a fundamental level there was lots of volatility in the scores and thus opportunities on the charts. One of the major positions that was caught by Marcus Raiyat was the CHF/CZK position.
Let's start with why he chose this pair
The LogicStrategy™ scores for CHF on the 01/03/2019 was 0. Normally this would be a neutral score for members who use the LogicStrategy™. However, Marcus noticed the huge double digit shift of +25. This is a massive sign that a reversal is imminent with CHF gaining so many points at once. On the flip side CZK at the end of January had a score of -17 and dropped to -25 a further 8 points, becoming even weaker. This is a perfect sign for taking a long position in CHF/CZK.
How did he enter the position?
While this was happening on a fundamental level the price itself was becoming discounted. Throughout February it reached a massive high of 22.850, but throughout the month it started to short, becoming a cheaper currency to purchase against the CZK. By the time it was the 1st of March 2019 it showed signs of support at 22.476 as outlined in green. All factors of analysis were starting to line up for the long. This is however where most traders could mess up on their entry. Marcus didn't jump the gun and enter the position straight away. Using price analysis he identified that the price itself was still a bit expensive and that there was still some selling power. So he set his order level at 22.521 a massive area of buying on a longer time frame. His order triggered in early March showing a morning star formation a huge confirmation of a long as many technical traders know.
Since then the position has materialized and profit has been taken at 22.831. This goes to show how effective the LogicStrategy™ forecasting tool can be used to find opportunities in the Forex market with support from technical and even sentimental analysis.
This is a live example in action, feel free to submit your trade ideas with the LogicStrategy™ scores and your analysis to email@example.com.