USDCHF: Shorts in Play

Yesterday I wrote about the EURUSD, that it just broke a long term resistance level and got out of the range it traded for more than 2 months. Well, the same happened to the USDCHF, it broke two long term support levels and it is also trading below the range it traded for more than 2 months. Take a look at the next chart:

USDCHF
USDCHF

Now, the next long term support level is around 1.0172, the market right now is trading at 1.0426, this means we have a long way to get there, so fasten your seatbelts :)

My Trading Plan:

As long as the USDCHF keeps trading below 1.0447 I will be looking for short opportunities and will set all my take profit orders above the next long term support level at 1.0172

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 .