USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be made before 5pm London time today.
Long Trade 1
Go long after bullish price action on the H1 time frame following a touch of 0.9800.
Put 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 1
Go long after bullish price action on the H1 time frame following a touch of 0.9739.
Put 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.0000.
Put 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.
Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
The CHF has been recovering somewhat, but the pair does have support as can be plainly seen from the trend line that has been holding the lower edge of the current triangle for the last 10 days or so. A breakout from this triangle might well be indicative of the next major move. Some kind of bullish bounce at 0.9800 if we reach that level is very likely.
There is nothing high-impact due today concerning either the CHF or the USD.