My first trade of the New Year. GBCHF has been trading in a 1500 pip range since Feb 2012. It has reached the top of that range, and so was looking for a short trade.
When PA showed rejection of the Big RN and previous Res, TDI Daily and 4hr showed a good angle cross down, I took the trade, but did drop down to the 1hr chart for this one.
Straight away, it went slightly negative, and hung there. I was hoping for a positive move before the GB news, in order to get my stop to BE, but it didnt happen. Luckily the news took the trade the right way for me, and hit my TP of 100pips.
Could have easily gone the other way for a loss had the news been positive for the GBP.
Have been trading the pair up and down for a year now, and will continue to do so as long as the range is intact.
Well done everyone, and look forward to good trading this year.
When PA showed rejection of the Big RN and previous Res, TDI Daily and 4hr showed a good angle cross down, I took the trade, but did drop down to the 1hr chart for this one.
Straight away, it went slightly negative, and hung there. I was hoping for a positive move before the GB news, in order to get my stop to BE, but it didnt happen. Luckily the news took the trade the right way for me, and hit my TP of 100pips.
Could have easily gone the other way for a loss had the news been positive for the GBP.
Have been trading the pair up and down for a year now, and will continue to do so as long as the range is intact.
Well done everyone, and look forward to good trading this year.