USDCHF moved inline with our expectation in week 6, however, a little surprise came along. However, if you have been going long with USDCHF, you would have made a good profit and stay relatively comfortable for the whole week 7.
In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading.
On the Monday of Week 7, USDCHF made a surprising upward move and ended it off lower than the starting point (hourly candle), that left a 90 pips upward tail. I didnt seek to find out what caused the spike, all I knew was that the opportunity to enter has presented itself. I went long, and exited for about 35 pips on that day itself after I spotted a consolidation. (the consolidation did happen and lasted till Tuesday)
The reason why I entered long was due to the analysis of Week 6 and a seemingly week reversal price pattern that was spotted as a bearish level in week 6. Holding till the end of the week would have yield great returns, however, it was not my habit and trading style to do that.
In the analysis of Week 7, we saw the formation of a classic H&S, which fell in line with our bullish zone 3, which would typically see price reverse at that zone. Thus, we are expecting a downward move in the coming week 8 for USDCHF.
For the coming week, I am most comfortable to trade GBPUSD, EURUSD, followed by USDJPY then USDCHF.
If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading.
On the Monday of Week 7, USDCHF made a surprising upward move and ended it off lower than the starting point (hourly candle), that left a 90 pips upward tail. I didnt seek to find out what caused the spike, all I knew was that the opportunity to enter has presented itself. I went long, and exited for about 35 pips on that day itself after I spotted a consolidation. (the consolidation did happen and lasted till Tuesday)
The reason why I entered long was due to the analysis of Week 6 and a seemingly week reversal price pattern that was spotted as a bearish level in week 6. Holding till the end of the week would have yield great returns, however, it was not my habit and trading style to do that.
In the analysis of Week 7, we saw the formation of a classic H&S, which fell in line with our bullish zone 3, which would typically see price reverse at that zone. Thus, we are expecting a downward move in the coming week 8 for USDCHF.
For the coming week, I am most comfortable to trade GBPUSD, EURUSD, followed by USDJPY then USDCHF.
If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
