[TW] 05-13-2012 USD/CHF Short by Jabroni

Trading Discussion
1

[B]USDCHF daily[/B]

[B]Long or Short:[/B] short

[B]Entry Point:[/B] .9300

[B]Stop Loss:[/B] .9360

[B]Profit Target/s:[/B] .9100

[B]Reward-to-risk Ratio:[/B] 3.33:1

[B]Risk percentage: [/B]1%

[B]Trade rationale:[/B] i think the dollar’s rally has extended long enough and i don’t see a catalyst for USD/CHF to trade beyond the .9300 major handle. the .9300 handle has been an extremely strong resistance level in the past, and it has held more often than not.

[B]Trade adjustments:[/B] moving my stop to BE if the market moves 60 pips (same size as my stop) in my favor

2

I buy into ur idea. God job.

3

I shorted @ 0.9300 at Friday but closed it with a small profit before the weekend pause. Going to short it again on monday…

4

Price action at the .93 on Thursday and Friday seems to support a bearish move from this point. Good spot!

5

When do you think the market will hit your projected profit?

6

thanks for the support guys. so far, usdchf is holding above 0.9300 but the high of March 2012 has not been breached so i am not yet worried.

usdchf typically moves about 60 pips a day according to its ATR (20) so the market could crawl to my PT area within a span of 3-4 days.

7

Mmh, i like this trade idea.

8

USDCHF shows too much upward momentum and too bullish.

Do you think there is any chance for USDCHF to reverse and and hit your profits target?

9

A trade that went very very wrong.

10

If I had more margin I will still long the USD/CHF even at this point in time. Good luck