Forex Trade USD/CHF Buy Signal Again!
Updated
Hey Traders just saw another nice hammer candle close on this pair today. The last time this pair gave me a signal it was a small loss. However I will be entering long here at the market as I believe it could have more room to run to the upside. The fact that it has rejected the Fibonacci 50% retracement level is bullish on the chart. This trade can have a good reward if becomes winning trade. Tommorow is Retail Sales numbers at 8:30am EST which if positive number can definitely push US Dollar higher in my opinion!
Buy Trade Entry .9175
Stop Loss .9100
Exit Strategy- After market moves in favor same amount of pips risk close half position to lock in profits. Then move stop to break even and look to lock in more profit using support and resistance.
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
Buy Trade Entry .9175
Stop Loss .9100
Exit Strategy- After market moves in favor same amount of pips risk close half position to lock in profits. Then move stop to break even and look to lock in more profit using support and resistance.
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 active
Still holding for now waiting to see if moves higher. It has started to move in profit lets see if continues.
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