Swissy Trade

by Liam 22:57 0 comments

Pretty slow week this week, took one trade on Swissy. A long position with an entry at 0.9200. Seeing as it was a slow week this didn't gain a lot of momentum, the trade topped out at around 45 pips or so before retracing and then attempting to break 9240 again. It did this several times if you look at lower time frames but it's only evident twice on the 1hr PnF chart. There seems to be a lot of resistance to the upside around this area.

On the chart below you can see another triple top formation just to the left of the one I entered on. I didn't take this trade due to the zone that it was in. Once we had bounced along the high of the lower shaded zone I decided there was enough support there and took the second entry. As usual I didn't want to hold over the weekend so I closed out on another retrace from 9240 towards the end of the day around 20 pips profit. Of the seven weeks this year, six have been profitable. Very happy with that average!

USD/CHF 1hr PnF