Last Thursday’s signals were not triggered as none of the key levels were reached during that session.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9856.
Put 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trades
Go short after bearish price action on the H1 time frame following the next touch of 0.9961.
Put 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
USD/CHF Analysis
The chart shows a bearish pattern dominated by a bearish trend line, plus short-term bearish momentum driving the price to new lows. The greenback is weak, and safe-haven assets such as the Swiss Franc are strong. Therefore, we have a strong bearish case, but we are approaching a very key pivotal point: support just above 0.9850. This area held as very key support with a strong inflection several weeks ago, so be very careful trading into this point as some kind of bullish bounce is probable, and a major bullish reversal is possible.
There is nothing due today concerning either the CHF or the USD