USD/CHF Long

USD/CHF Daily

Long or Short: Long
Entry Point: 0.9063
Stop Loss: 0.9005
Profit Target: 0.9213
Trade Explanation: 4hr chart stoch shows overbought with a downward trend which is where I’m looking for the buy-in. Weekly chart shows oversold with an upward trend from the RSI(9 period). The chart should tell you the rest. I have the S/L at S1 because I don’t think it will bounce that far.
The average daily pip movement on this pair over the last ten days is 70.1 so keep that in mind as S/L is placed. I have mine much shorter because I prefer this trade stopped out earlier if it moves against me.
I will keep an eye on this because my trading plan dictates that I trade AFTER the 10/20 MA crossover, and I always follow my own rules, but I expect that to happen at the point I have indicated. If not, I’ll join in a bit later than I had hoped. Keep in mind the US shutdown.

I’m planning to buy this pair too but I’ll wait for the US debt situation to be over. Nice analysis though!

Here’s the chart as of Friday.

Chart USDCHFpro, D1, 2013.10.12 17:04 UTC, FOREX.com, MetaTrader 4, Real - MetaTrader Trading Platform Screenshots

I will also be waiting to see what the US gov’t does, this may still backtrack to the original entry point. Patience is key. :44:

-d0c

I jumped in as it neared the activation price. .9063 was the buy line and the low that day was .90629! Glad I jumped in. Took TP1 and 2 and jumped out.

Chart USDCHFpro, D1, 2013.10.15 17:37 UTC, FOREX.com, MetaTrader 4, Real - MetaTrader Trading Platform Screenshots