So guys, here we present textbook trading opportunities in USDCHF pair in last 2 weeks.
First trade we took and got some nice profit locked in, but other 2 trades on chart we missed. Why? Because we just didn't pay a lot of attention to the pair.
Anyways after analyzing the pair we saw extremely nice break & retest / pullback opportunities in this market.
When you take a look on 2nd trade, there was a significant bearish candle which indicated presence of sellers on psychical 1.0000 hurdle, then retest of that zone.
Second one was break of another support area around 0.9665. Which after being retested showed another down movement.
In each case we use 20pips stop for much higher reward. This may vary a bit but in any case you should not have huge SL in terms of pips.
Let me explain. If you see that something which was support becomes resistance and you sell at that point, if you were right 20pips should be fine enough SL. If you are wrong and resistance doesn't hold and it's broken in 80% of the cases it will continue up.
So basically, this break & retest with pullback is very strong strategy, because you're following the trend, and trend is your friend always :)
Have a nice weekend and lots of pips in the upcomming weeks <3
First trade we took and got some nice profit locked in, but other 2 trades on chart we missed. Why? Because we just didn't pay a lot of attention to the pair.
Anyways after analyzing the pair we saw extremely nice break & retest / pullback opportunities in this market.
When you take a look on 2nd trade, there was a significant bearish candle which indicated presence of sellers on psychical 1.0000 hurdle, then retest of that zone.
Second one was break of another support area around 0.9665. Which after being retested showed another down movement.
In each case we use 20pips stop for much higher reward. This may vary a bit but in any case you should not have huge SL in terms of pips.
Let me explain. If you see that something which was support becomes resistance and you sell at that point, if you were right 20pips should be fine enough SL. If you are wrong and resistance doesn't hold and it's broken in 80% of the cases it will continue up.
So basically, this break & retest with pullback is very strong strategy, because you're following the trend, and trend is your friend always :)
Have a nice weekend and lots of pips in the upcomming weeks <3