Follow the rule - buy low, sell high
USDCHF on the day chart has just broken out of the bearish trend line.
On the 4H chart, we can see a small retracement and I expect without much surprises next week, the price action should continue to head north towards the target indicated on the chart.
As previously mentioned, if you are longing this pair, it is better not to short EURUSD as the concentration of risk increases. That means, if this trade idea fails, then you are in for a double whammy. This has less to do with confidence but more on risk mitigation.
Initiate a small position, once it clear the first hurdle at 0.98597, you can add more.
Trade safely
On the 4H chart, we can see a small retracement and I expect without much surprises next week, the price action should continue to head north towards the target indicated on the chart.
As previously mentioned, if you are longing this pair, it is better not to short EURUSD as the concentration of risk increases. That means, if this trade idea fails, then you are in for a double whammy. This has less to do with confidence but more on risk mitigation.
Initiate a small position, once it clear the first hurdle at 0.98597, you can add more.
Trade safely
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