Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Monday, 19 November 2018 11:00 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals produced a profitable long trade from the bullish pin candlestick on the hourly chart which rejected the support level at 1.0045, but it only produced the minimum 20 pips of profit. 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 1.0013, 1.0035, or 1.0046. 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 0.9958, 0.9918, or 0.9898. 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 if there were a strong bullish bounce at the support below over the next few hours, I would take a bullish bias here. There was a weakly bullish long-term trend, but trends tend to be relatively unreliable in this currency pair. This was a good short-term call, but the picture now looks more bearish as the price broke down decisively through several support levels. Leaving aside the unreliable (in this pair) long-term bullish trend, the fall from an area around parity at 1.0000 has some potential to produce a more substantial bearish movement in the price. I take a bearish bias today between 0.9990 and 0.9958. There is nothing important due today concerning either the CHF or the USD. 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.