Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Monday, 26 November 2018 10:20 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals were not triggered as none of the key levels were reached during that day’s London session. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today only. Short Trades Go short following a bearish price action reversal upon the next touch 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 Go long following a bullish price action reversal upon the next touch of 0.9955, 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 we were likely to see a continuation of the ranging condition, especially as market liquidity would be very thin after the London session because the U.S. was on holiday. This was a good call and the levels held. The picture is now more bullish, with “stairstep” resistance turned to support at 0.9955 and some room to rise higher to the parity level. I would be bullish if the price trades above 0.9985 after the London open but not optimistic that the price will rise a great deal higher. There is nothing important due today concerning either the CHF or the USD. It is a public holiday in the U.S.A. today. 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.