140 pips on USDCHF

by Ashley DeSousa | Mar 9, 2023 | Forex Analysis

funding

HI everyone,

I don’t have access to my desktop PC at the moment so logged in on my laptop after a very long time and had to use Loom for the recording as I don’t have access to my usual software.

USDCHF

So this is a trade that we have been waiting for weeks for multiple reasons to short at the 0.94000 region. Remember Support and Resistance are never an exact level as I have mentioned in the past. It is an area where price could most likely react and move in the opposite direction. We have the EMAS and MA to add to our confluence to spot these in advance.

I was worried I wouldnt catch the trade if I had it too close to the EMAS or right on it as I could have easily missed it and lost on the 140 pip move. But I put the forward order slightly below so I had a higher chance of catching it. Which worked perfectly around 0.94350 with my stop above the EMAS.

Remember we have NFP news tomorrow along with JPY monetary statement and also CAD employment news. So make sure to not open any new trades around this time.

This is an example of a A grade set up and easily the trade of the week. You can watch the analysis below and how I manage the trade.

New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.

As always, remember correlation! -Especially when taking more than one JPY trade!

We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

Kind regards,

Ashley

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