USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action at 0.9657.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken between 8am and 5pm New York time today only.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9640.
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 Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 0.9845.
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
If you look at a long-term chart of this pair then it can be seen that while there is technically a long-term downwards trend, the overall action is really choppy and there is no reason to be confident of any strong directional movement holding steady for very long. We are getting major lower highs but also higher lows and while the consolidation is not as severe as it is for this pair’s sister pair EUR/USD, it still means that anything other than short-term trading off obvious reversals is very risky.
There is nothing due today concerning either the CHF or the USD.