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USD/CHF

New strategy :
Hold long entered at 0.9600, Target: 0.9700, Stop: 0.9545
Position : - Long at 0.9600
Target : - 0.9700
Stop : - 0.9545
Failure to extend intra-day rebound and current retreat suggest further consolidation would be seen, however, as long as last week's low at 0.9572 holds, mild upside bias remains for another bounce, above resistance at 0.9643 would signal the retreat from 0.9687 has ended, bring another test of this level, break there would provide confirmation that a temporary l
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Preparing for trading week


After Saturday which is my rest day for forex , in sunday i looking some charts and possible trade for week. Currency pair which is on interesting level is usdchf. Very strong support on level of 0.9500-09550 and if that support hold in next cople days i will go in big buy. In short period i will look this rectangle from the pic and on which side will be breakout. Happy trading!!!!!
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Which times frame and tool is the best,,

Im trading Forex from past few year,, but still im not feeling comfortable about the time frame and specific tool for day trading,,
Initially i incurred loss(all my investment) when i was trading in 1H chart
Now im using 15M & 5M chart, And my trading style is scalping, my winning ratio seems progressing,, but the problem in this chart is whipsaw, when the market is taking a sharp turn,, im will have to wait for weeks to months to close the position, since in have enough balance and my lot siz…
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DumbAsArock avatar

One tip:  If you're trading on 5 minute charts and have three losing candles in-a-row then get out unless there's a good reason to stay in the trade.

Narenraj avatar

Thank You Mr David,.

And any particular specific and more reliable technical tool ???

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Trading setup on important news

Today I want to share with You a setup that each trader should know. I am sure that many are aware of it, but this goes out for those who hasn't noticed yet. It happens over and over again. mostly during important news announcements like the interest rate decision and FOMC.
What normally happens is that before price can go in one directions stops are taken out on the opposite side. To see those levels look at H1 and M15 charts and mark the nearest obvious highs and lows on both sides. Smart mone…
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