Short term USDCHF Sell

Entry- 0.99145
TP- 0.9876 - 38.5 pips
SL- 0.99445 - 30 pips

Looking for a brief, trend continuation trade on the USDCHF 4H chart. Price has broken through short term support at 0.990 zone and retesting the area of support as well as touching the 30EMA line (green). Looking for another retest of the 0.9876 area of new support.

Stop loss above the 200MA (blue line) and Ichimoku Cloud. This is a small/medium sized position given the less-than-advantageous risk to reward ratio.

Will update as updates are available. Thanks for looking!
-Zedro

עסקה פעילה:

Trade has been active. The price jumped against my position straight away following the new threat of increased tariffs on Chinese goods. In profit currently. Should be an interesting trade with FOMC coming up.

עסקה סגורה: הגיע לסטופ:

Disappointing, but it is what it is. It is a busy news week, so it probably wasn't the best timing for a USD trade. The problem was in my entry. I should have waited for the close of that 4H candle prior to putting on my position.

Given some of the long lower wicks that were created on dips down into positive territory, I should have realized there was bullish sentiment on this pair. Not a good trade, but I stuck with the original plan (however faulty it was) so I can't criticize myself too much.
Better luck next time.

-Zedro