Trade Closed: 2008-01-27 20:28
Our trade was entered and exited on Friday as the Greenback rallied against the Swiss Franc into the weekend.
Total: -60 pips/ -1%
Trade Idea: 2008-01-25 00:28
Good Evening! The Swiss Franc has been ripping against the majors lately and that includes the Greenback. Without any major economic news to close out the week, we may see technicals play out as the Swissy retraces on profit taking and meets minor resistance around 1.0930 – 1.0940 (yesterdays high).
Short USD/CHF at 1.0930, stop at 1.0990, pt1 at 1.0885, pt2 at 1.0830
Remember to never risk more than 1% of your account on any single trade. Adjust position sizes accordingly.
So, a simple trade to close out the week. Stay tuned…Good luck and good trading!