Hi,
Looking for a short on the USDCHF, this is purely from a technical viewpoint, we have seen some bearishness in the DXY and a strong bearish leg form followed by lower lows and lower highs. The technical reason is a 50% fib retracement on the most recent bearish leg(1hr timeframe) and a test of lows. We are looking for a 1272 fib extension as a target.
Entry: 0.99198
Stop: 0.99010
Target: 0.98776
I would take less risk on the account with this trade since we have already spiked through the lows and pull back, the support is strong in the area. I recommend a 1% risk on a small account .
Watch me trade live at twitch.tv/aardall
Looking for a short on the USDCHF, this is purely from a technical viewpoint, we have seen some bearishness in the DXY and a strong bearish leg form followed by lower lows and lower highs. The technical reason is a 50% fib retracement on the most recent bearish leg(1hr timeframe) and a test of lows. We are looking for a 1272 fib extension as a target.
Entry: 0.99198
Stop: 0.99010
Target: 0.98776
I would take less risk on the account with this trade since we have already spiked through the lows and pull back, the support is strong in the area. I recommend a 1% risk on a small account .
Watch me trade live at twitch.tv/aardall
Order cancelled:
Change in sentiment in the market, we are seeing a rally in the dollar here. We didn't get filled in the short and price looks like it's setting up for another pullback or a bullish run.