Last Thursday’s signals were not triggered, as none of the key levels were reached that day.
Today’s USD/CHF Signals
Risk 0.75%.
Trades must be taken before 5pm London time today, over the next 24-hour period only.
Short Trade
Go short following a bearish price action reversal upon the next touch of 0.9985.
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.
Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.
Long Trade
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.9827.
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.
Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.
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
I took a bearish bias last Thursday, but the price rose slightly. However, the price has fallen since then and has now even broken below the former support level at 0.9887, which now seems to have flipped to become resistance. The U.S. Dollar looks as if it could be on the bring of a medium-term bearish reversal, so it does look, as I have been saying for a while, as if there is bearish potential here. I have a bearish bias on this pair today. It looks as if the price will continue down to reach 0.9827 although this may take a while to happen.
There is nothing due today regarding the CHF or the USD.