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Closed Trade: USD/CHF SHORT 9/05/2017

Mosaic 55 - Forex

Closed Trade: USD/CHF SHORT 9/05/2017

Short USD/CHF at 0.9555  on 9/05/2017.    Initial Stop Loss  0.9615

Exit: 0.9481

Gain: 74 pips

After patiently slogging through a brief drawdown our patient persistence was finally rewarded with a profitable trade. A classic rejection of a down sloping 200 hr MA by a bearish harambi followed by further confirmation given to us by a subsequent large negative candle initiated our short position. The trade could have been held longer but decent support and bullish price action around 0.9440 caused us to exit and seek other opportunities for profit.

 

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