LONG USDCHF if it breaks 1.0211 resistance.

8 janv. 2017

USDCHF looks to be at an interesting point to me. I'm thinking of going long at 1.0216 (entry would be just above a resistance level at 1.0211, if it manages to break it) with TP at 1.0299 (another longer term resistance level) and a SL at the point I think I would be wrong, which to me is into the body of the last daily candle. At about a half of the ATR on the daily (which sits at 0.00435 at the time of writing), this is an aggressive stop, but over the long term the USDCHF appears to me to be in a channel, so it could well go lower and I don't want to take those losses. The pair has had a few attempts on the higher long term resistance around the 1.03 area, so it could try again or it could fall lower on those failures from here. Either way, here's one of my positions and we will see if it's going to work out.

These are only my opinions. Comments, questions and suggestions are very welcome!