Sunday, February 10, 2013

USDCHF tends to decrease

USDCHF trades with the decreasing volatility last days. The volatility may increase soon and the support (last minimum) at 0.9155 will be punched. Let's put pending sell order 1 point lower the support level.
We can use 161.8, 261.8 and 423.6 Fibonacco levels as Take profits and the resistance (last maximum) level as Stop loss.

As we reach each Fibonacci level close the 1/3 of the order amount and move the Stop loss at the previous Fibo level. For example as we reach 161.8 Fibo level close 1/3 of the order amount and move Stop loss to 100 Fibo level (i.e. entry price level).


My entry price: 0.9154
Take profit 1: 0.9133
Take profit 2: 0.9098
Take profit 3: 0.9042
Stop loss: 0.9191

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