USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9855 or 0.9829.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trades
Short entry after bearish price action on the H1 time frame following the next touch of 0.9959 or 1.0043.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
USD/CHF Analysis
The real action in the market has been away from this pair. The outlook continues to be bearish, and below 0.9800 we could start to see the start of a real bearish long-term trend. However, I think this are will be supportive for a while.
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