Live Trade Result – USD/CHF

Filed under: Live Trades |


In yesterday’s live trade article, I talked you through a trade setup on the USD/CHF forex currency pair – and this trade has now come off very nicely for a 2.5% rise on the bank. This was my first trade of the year, as I am taking a very cautious and careful approach this year, and this has got us off to a great start; and I will talk you through how this trade panned out right now…


Figure 1.

Figure 1.

To begin with, as a brief reminder, Figure 1 shows the setup that I talked about yesterday. This is the daily chart for the USD/CHF pair. What you can see is that price is moving down, making lower highs and lower lows, and price has retraced to a 50% Fibonacci retracement area and a good area of support/resistance. Several pin bars formed, and I put an order in to go short at a 50% retracement of the third of these pin bars. Once price moved in our favour to an amount equal to that of our risk, I moved the stop to breakeven for some added protection. This in effect, gave us a risk free trade.

Picture 1

Figure 2.

Figure 2 shows how this trade panned out. As you can see, our breakeven stop was never even challenged, and price gained a lot of bearish momentum and plummeted down. Our target was easily reached in just one day for a 2.5% rise on the bank.


What really attracted me to this trade was the pattern of the pin bars, with the high of each pin bar being successively lower; and all of this happened at a confluent area where there was a good area of support/resistance, and a 50% Fibonacci retracement area. This represents a good trade, and a good start to the year. If we can make just 2.5% profits per month, then that will be a 30% rise on the bank in the year – and I would take that right now, as this is a very good return. However, we will not set targets, but rather, we will just trade what we see setting up as it comes.

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