What do you think? Dollar recently hit new low against the swissy and has been in a downward channel for the past couple months. I shorted on a stochastic crossover in overbought after the last test of the trend line, looking for a TP before reaching the previous low for 230pips with my stop above the line at -115pips. FXCM’s Sentiment Index shows majority of retail traders are long (contrarian indicator).
I entered short at .8839. I am expecting to stay in this trade for about 5-10 days.
I’d add a screenshot of my chart by I don’t have enough posts.