USD/CHF Signal Update
Last Thursday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London times today.
Long Trade 1
* Go long after bullish price action on the H1 time frame following a first touch of the supportive trend line currently sitting at around 1.0116.
* Place the stop loss 1 pip below the local swing low.
* Move 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.
Long Trade 2
* Go long after bullish price action on the H1 time frame following a first touch of 0.9928.
* Place the stop loss 1 pip below the local swing low.
* Move 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 Trade 1
* Go short after bearish price action on the H1 time frame following a touch of 1.0179.
* Place the stop loss 1 pip above the local swing high.
* Move 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.
USD/CHF Analysis
We had a classic triangle breakout late last week, with the price breaking upwards before falling again quite quickly to retest the upper line of the broken triangle, and then taking off again. We seem to have been falling in recent hours as we got close to the key resistance level at 1.0179 so resistance might have been coming in a bit early. It would not surprise me if we fell again to the triangle as the next short-term move.
There is nothing due today concerning either the CHF or the USD.