Just reading a note from one of the bigger prime brokers saying that one of their smarter accounts sold 200 million EUR/CHF around 1.2330 on Monday and has now booked an easy CHF4 million profit, buying them back in the last few hours.
I think that’s the sort of market we are in; sit and wait for good risk reward opportunities and then book your profits when given the chance and go look for the next opportunity. I think entrenched views can be dangerous in these types of markets.
