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

[Jabroni]

USDCHF daily



Long or Short: short

Entry Point: .9300

Stop Loss: .9360

Profit Target/s: .9100

Reward-to-risk Ratio: 3.33:1

Risk percentage: 1%

Trade rationale: 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.

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

[Agono77]

I buy into ur idea. God job.

[robvienna]

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

[Pipcollecter]

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

[wenlong76]

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

[Jabroni]

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.

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

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.

[Antogj]

Mmh, i like this trade idea.

[wenlong76]

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?

[wenlong76]

A trade that went very very wrong.

[Leg0nd]

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