USDCHF Daily Long Trade
Here is the rational for this trade:
On the weekly, we have a MACDBB buy signal
On the daily we have two signals:
A double bottom trade that stayed in the sweet spot and a trendline long trade above .94090.
The sweet spot is a retracement between 62% and 125%. (See rectangle)
We are also over the value zone as represented by the red and green moving averages. (8 and 21)
Enter on a pullback to .94306 with a stop below .9312 and a target under .95840
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.