Technical Analysis Free Forex Signals USD/CHF Forex Signal - 6 November 2018 USD/CHF Forex Signal - 6 November 2018 Tuesday, 6 November 2018 9:59 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as none of the key levels were ever reached. Today’s USD/CHF Signals Risk 0.75%. Trades may only be taken before 5pm London time today. Short Trades Go short following a bearish price action reversal upon the next touch of 1.0069 or 1.0111. Place 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. Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trades Go long following a bullish price action reversal upon the next touch of 1.0009 or 0.9958. Place 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. Take off 50% of the position as profit when the price reaches 25 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 I wrote yesterday that I continued to see bullish bounces at support levels as the best potential opportunities here which might set up. I would take a bullish bias above 1.0111. This scenario did not arise. The picture looks less bullish now, but there is still a long-term bullish trend which might make longs preferable to shorts. The price is in the middle of a zone and looks as if it is going nowhere, so it will probably be wise to avoid trading this currency pair today. 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.