USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action at 0.9800.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken between 8am and 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9726 or 0.9756.
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
Go short after bearish price action on the H1 time frame following the next touch of 0.9854 or 0.9894.
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.
USD/CHF Analysis
The previous key supportive trend line broke, but we can draw a new supportive trend line under the current swing lows. I put it on the chart but I have no faith in it as it doesn’t feel like a real natural trend line. For this reason I look to the horizontal levels especially a bearish price action reversal rejecting 0.9854 which should give a good short trade entry opportunity.
There is nothing due today concerning either the CHF or the USD.