USD/CHF Signal Update
Last Thursday’s signals expired without being triggered as the price has still not reached either 0.9358 or 0.9166.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm London time today.
Short Trade 1
Go short after bearish price action on the H1 time frame immediately following the next touch of 0.9358.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Go short after bearish price action on the H1 time frame immediately following the next touch of 0.9393.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long after bullish price action on the H1 time frame immediately following the next touch of 0.9166.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
Incredibly, it has now been two weeks since the price did anything meaningful at all. The longer this consolidation continues, the more powerful the eventual breakout it likely to be.
There are no high-impact data releases scheduled for today concerning either the CHF or the USD. It is a public holiday in the USA. Therefore today is likely to be a very quiet day for this pair.