Time to reassess

  • Decided to take profit on the USDCHF trade today at 0.9925 and 0.9965
  • As per previous updates(please follow the links) , I’ve been trading it lately between 0.9925 and 0.9880
  • I am falling a bit short of the final targets at 0.9990( fib extension) and 1.0020, but the EURCHF is showing cracks after the past weeks of support , coming down from over 1.17 to below 1.1650 writing this, risking  a false break through the resistance line @ 1.1680.
  • In the meantime EURUSD is coming close to supports at 1.1680 and 1.1660 and EURJPY fails to hold the rallies as well.
  • And last but not least , the trade finally made 230 points on the original entries, jobbing included plus10 days of positive carry from initiation.
  • I will reassess if we come back down to 0.9880 support or on a break of 1.0025

USDCHF W1 26.10.2017

EURCHF D1 26.10.2017


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