Trade Review: USD/CHF

August 16, 2006 7:02 PM UTC in Trade Ideas

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It looks like we got a little lucky today as our short entry was triggered and was nearly stopped out! Luckily, the CPI and US Housing starts came in numbers lower than expected causing a sell off in the greenback and our trade to come to full profitability.

Lot 1: +20 pips

Lot 2: +50 pips

Total: +70 pips

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About Pipcrawler

Every day, I try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own. To help you understand my trading approach, please read about my trading framework.