Not bad for a couple days’ worth of waiting!
As I mentioned in my update last week, I got lucky with my entry on USD/CHF’s rally. I also said that I’ll be keeping close tabs on my position during the NFP report release.
Original Trade Idea: Retracement Play on USD/CHF
Well, it looks like I watched the report TOO closely. I exited the trade as soon as I saw the way weaker-than-expected NFP report. You see, I had anticipated end-of-week profit-taking or at least a deep retracement for the dollar.
In hindsight, I probably should have waited for candlestick confirmation before I pulled the trigger. My stop loss is wide enough, after all. As it is, the trade yielded a 0.52% gain on my account, twice my 0.25% risk. Not too bad, I think.
Do you think USD/CHF is still a good buy on retracements? Fingers crossed for another good setup next week! 🙂