Commiting...

Just a very quick post to let you know that Tom and I have just climbed into GBPCHF (...or Swiss Tony as we like to call it).

We are long at the close of the 0800 BST candle, tagretting 1.7050 - which is a Daily Pivot level that was missed last Friday.

Whilst you will see from the chart that the Candlesticks don't yet look too convincing, the pair is currently making ground to the up-side and it is clear to us that the Bulls are at least having a go.

Having said this we have kept the position sizing small and will exit if the pair falls to below the rising support line (... my stoploss is at 1.6740). This would represent a loss of about 100 pips, which after a super good week on GBPJPY, NZDJPY and AUDUSD - I am prepared to risk.

If 'Tony' can close a 1H Candle above 1.69 I will be adding positions. I also believe that if we are still in the trade at today's close, the magnet of that Missed Daily Pivot will be even stronger going into next week.

So - Bottom Line is that we like this trade enough to climb in, but we acknowledge that we've jumped early and so kept the sizing small and set our stop loss far enough South that Tony has sufficient wiggle room to make up his mind - either way.