TheForexNinja

USD/CHF Buy Signal in Uptrend!

Long
FOREXCOM:USDCHF   U.S. Dollar / Swiss Franc
Hey Traders just saw a nice hammer candle close on this pair today. I will be entering long here at the market as I believe it could have more room to run to the upside. The US Dollar in my opinion has broke out of a strong uptrend and the trend is your friend so I think this could be a trade that is worth the risk. Also this trade can have a good reward if becomes winning trade.


Buy Trade Entry .9246

Stop Loss .9185

Exit Strategy- Move stop to break even after market moves in favor same amount of pips risk. Then look to lock in more profit I will target resistance at .9471 if market can get there.


Risk Management:

(Always look at every trade as how much you can afford to lose. Make sure it is your risk managment tolerance. Most experts recommend never to risk more than 2% of you total account equity on any given trade. Then protect your profits until market reaches your desired target.)

Trade Well,

Clifford
Trade closed: stop reached: This trade was loss. Market reversed wildly today out of the blue. Which is why risk management is so important. Always expect the unexpected when trading.
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