USDCHF: Buying Opportunity at Support

2020年8月17日

The trading idea is based on the price reversal from 0.90500 support. The sellers couldn't break the resistance. They had 2 attempts and failed. Probably, the 3rd attempt also will fail, and we will get a good buying opportunity.

Here is an example of a long trade based on the reversal signal.
Buy above 0.90775
Stop below 0.90350
Take Profit at 0.92000 and SMA200

Risk per trade must be no more than 1-2% from the capital. If the price breaks the support zone, the same pattern can be used at 0.90000 support. The false breakouts will be good for opening long positions as well. Stop orders for such trades must be placed below new swing lows.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.

2020年8月18日

註釋

No reversal signal = not long position. Watch for the price action and wait for new trade opportunities.