Technical Analysis Free Forex Signals USD/CHF Forex Signal - 7 November 2018 USD/CHF Forex Signal - 7 November 2018 Wednesday, 7 November 2018 10:48 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as there was no bullish price action at 1.0009. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today only. Short Trade Short entry following a bearish price action reversal upon the next touch of 1.0069. 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 Trade Long entry following a bullish price action reversal upon the next touch of 0.9958. 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 yesterday that the price was in the middle of a zone and looked as if it were going nowhere, so it would probably be wise to avoid trading this currency pair. This was a good call as the movement was quite random. The picture is more bearish now, with the chart below dominated by a short-term bearish trend line. As the price has sold off from an area above parity (1.0000) which has acted as long-term resistance, the best potential is likely to be on the short side now. A good short trade is unlikely to set up today, but it might be that we get another touch of the trend line which could provide a low-risk opportunity to enter. I would be bearish today at a reversal at the trend line or at 1.0069. 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.