USD/CHF Forex Signal - 25 March 2019

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Last Thursday’s signals were not triggered as none of the key levels were reached during the London session.

Today’s USD/CHF Signals

Risk 0.75%.

Trades must be entered before 5pm London time today only.

Short Trades

  • Go short following a bearish price action reversal upon the next touch of 0.9965 or 1.0015.

  • Place 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.

  • 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 0.9892 or 0.9848.

  • Place 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.

  • 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.

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.

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USD/CHF Analysis

I wrote last Thursday that the day’s directional movement was doubtful and would probably depend upon what the SNB said. If somehow it extended the downwards move, that could be interesting for short trades, but I said it would be wise to be wary of the support levels not far below.
USDCHFThere is nothing of high importance due today concerning either the CHF or the USD.

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.