Technical Analysis Free Forex Signals USD/CHF Forex Signal - 12 November 2018 USD/CHF Forex Signal - 12 November 2018 Monday, 12 November 2018 12:32 Share 0 Tweet 0 Pin it 0 Last Thursday’s signals were not triggered, as none of the key levels were reached during the London session. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today only Short Trades Short entry following a bearish price action reversal upon the next touch of 1.0110 or 1.0150. Put 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 Trades Long entry following a bullish price action reversal upon the next touch of 1.0048, 1.0035, or 1.0014. Put 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. Remove 50% of the position as profit when the price reaches 25 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 wrote last Thursday that I had no short-term directional bias, but I still thought the greater opportunity for a long-term price movement was downwards as we were selling off from an area above parity (1.0000). In fact, the price has risen, and the technical picture now looks much more bullish, as we have a cluster of nearby support above the big round number at 1.0000 and the price is trading at a new 1-year high price. However, this pair often reverses its momentum or trend, so it is important to be careful. For this reason, I think a short trade off a bearish reversal at 1.0111 could be an interesting trade if it sets up later. Generally, I have no directional bias, but somewhat higher prices look likely to be reached at some time later today. There is nothing important due today concerning either the CHF or the USD. It is a public holiday today in the U.S.A. Currency Pairs USD/CHF Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.