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Dodged a big bullet on this one!

Last week USD/CHF was lollygagging around my entry levels when Uncle Sam printed a better-than-expected durable goods orders report. As a result, the pair popped up and retested the .8860 area. Since price was already 30 pips above my entry and is the same distance as my stop loss, I decided to move my stop loss to break even.

USD/CHF 1-Hour Forex Chart
USD/CHF 1-Hour Forex Chart

It was a good thing that I did! USD/CHF erased all of its report candle gains in the next hour and even ended the day lower than where it started the U.S. trading session.

I’m left with a break-even trade and 0.00% gain on my account, but hey, at least I avoided a potential 0.25% loss! Hopefully I can spot another good setup this week.



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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.