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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

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

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! 🙂

XOXO,

Huck

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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.