USDCHF – July 22nd

My favorite trade this week is in the USDCHF, and I came across an analysis which is not my own but has a similar conclusion which is why I happily took it and thanks the guys at Paxforex for this chart which made my start into this trading week a bit easier.

I have had this pair on my list of currency pairs to analyze this morning, but thankfully it was done for me. I am not a big advocate of taking the analysis of anyone other than myself for my own portfolio (not saying others are bad, just stating that I trade my own stuff).

With that in mind, if you decide to enter a trade there are only two things you can do: You either go long or short. Therefore, you will find plenty of material supporting your own idea and plenty of material stating the opposite of what you thought.

Every once in a while you may come across an analysis which you agree on and like, despite not being your own so this morning I did come across this USDCHF analysis which I personally like and since I planned to add this currency pair to my portfolio this week anyway if my levels are hit I spend 30 seconds for a thank you message rather than x-amount of time for a full analysis. Does not happen often, but when it does I know how to appreciate it. I got my long in at 0.9350.