While on EURUSD I still have no real and strong conviction to trade (it is still consolidating with no real momentum on any sides), USDCHF I prefer to go long in smaller clips slowly.
Please see my arguments in the previous post linked below.
On the back of EURUSD move today, finally USDCHF traded lower as well. Based on my previous idea I bought some small today. I will not use a 4 Hrs stop this time, rather watch how it trades on the daily time frame, as the space within the triangle is tightenning. My strategy is to add to longs in really small clips down to 0,8765, and place stop only below 0,8730. I can not promise it will work, it has a big risk as we try to catch the bottom now, instead of waiting for a proper breakout on the top side, but the idea is to build a bigger and longer term strategic position. If you follow this strategy, please make sure you adjust your position sizes properly based on your general risk management strategy! Do not risk too much at once, do not go into high leverage until the bullish reversal really confirms!
p.s.: I doubt Draghi would like to see EUR lot higher from here, I think he will naturally deliver a dovish speach.
Comments
Kumowizard
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Still holding some longs, but with less confidence tbh. If price breaks below minor uptrend line and previous local low (0,8750) trade idea will lose its validity.