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Stopped out on a pullback! But it’s all good as my adjusted stop loss was able to lock in more than a hundred pips with this early exit.

Short NZD/CHF Trade

Just like my Guppy short play that enjoyed bearish momentum and got closed on a pop higher, I was also booted out of this NZD/CHF position as price recently pulled up from its dive.

In this case, though, I had a better R:R as my stop was relatively tighter. After the RBNZ gave a less upbeat policy announcement, Kiwi bears came out to play and allowed me to roll my stop down and lock in some gains.

NZD/CHF 4-hour Forex Chart
NZD/CHF 4-hour Forex Chart

But when risk-taking returned on the prospect of trade talks between the U.S. and China, this pair popped higher and hit my adjusted stop. In retrospect, I probably should’ve set it slightly higher past the .6600 handle if I wanted to stay in the trade longer.

I’m still bearish on this pair because I think trade tensions are far from over and the RBNZ’s downbeat bias is a pretty huge deal. But while I like the franc’s safe-haven appeal while political concerns weigh on the dollar, I can’t help but feel wary of potential SNB jawboning at some point.

Gonna keep my one good eye open for any short-term pullback plays, though! For now, here’s what I got:

P/L: +140 pips / +0.46%

Almost a 1-to-1 play with my 0.5% risk for this setup! I’m actually happy with how things turned out and how I managed this position. That’s back-to-back wins for me, too!

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