Trading Forex - Forex Update: Selling USDCHF on Retest Under Resistance Zone

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=trading_forex&ad=vrquVzFlxuY So, putting it at 0.9985 or so, or even 0.9990 would give you a decent stop loss for a short trade. The risk here is that it breaks above the blue zone. So, if it breaks the blue zone, we probably don’t want to stay in it too long. A couple of things fibs. Let’s draw a couple of fibs here on the chart. Let’s go from the highest high, down to the current low. That puts the .236 at 0.9972. Now, that’s a long fib, and of course if it makes a new low, that Fibonacci would change. Let’s take a little bit shorter. Let’s just take that same range and draw it to this high. Well, that’s interesting because the .382, 50 percent, and .618 sit right around this blue-shaded area. So, as it rallies and holds resistance here right around the 0.9950-level, I believe that this will be an opportunity on an intraday to go short with a stop loss 35 or so pips there, where the red line is, and we’ll target the orange-shaded area. Now, if it breaks the blue zone, opens and closes back above it, that’s going to invalidate the trade and we’re possibly looking for it to go back up from there. So, the key point is that we want to see it stay under the blue zone. Target the orange zone. A break above the blue zone is the risk on our trade today for the USDCHF. https://www.youtube.com/watch?v=vrquVzFlxuY Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.

Comments

1. 750 is not USD right? Coz almost 75 pip move is not giving 750 dollar with 0.02 size
2. How is that? AUD/USD sell taken @ 0.77350 current market price 0.766, size 0.02. profit shows 750 what?
3. what each color mean