USDCHF: A Simple Trading Plan

The Swiss Franc is trading at an important support zone (1.0701 – blue line). I like to see the market trading in a little range in the short term charts when it approaches to important long term support or resistance levels… please take a look at the next chart:

USDCHF
USDCHF

Blue line – Long term support zone
Green lines – Short term range

Here is my trading plan for the USDCHF:

If the market breaks the short term resistance up (1.0713) I will start to look for long trading opportunities.

If the market breaks the short term support down (1.0658) I will start to look for short trading opportunities.

I will do nothing if the market stays in the short term range.

Good luck.

Raul Lopez

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .