Technical Analysis Free Forex Signals USD/CHF Forex Signal - 5 December 2018 USD/CHF Forex Signal - 5 December 2018 Wednesday, 5 December 2018 10:33 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the bullish price action took place slightly below 0.9939. 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 1.0008, 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 0.9933 or 0.9918. 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 I had no directional bias generally, but I would be bullish if there was a strong reversal at either of the nearby support levels later, especially at the level of 0.9939. In fact, there was a strong bullish reversal just a few pips below that level, so the precision was wrong, but the general idea was right. The U.S. Dollar is making a comeback to some extent, but this pair is outside the market’s focus, and it may be hard for the price to break much further above the parity level, so there could be limited upside. The most likely scenario is that the price will range 0.9939 and 1.0008 over the short-term, so a short trade off a bearish reversal at resistance looks like being the best possible trade which might set up here. Beyond that, I have no directional bias here 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.