Another signal on the USDCHF
Hey, how is your trading going this week so far?
Last week I wrote about the USDCHF, I really felt comfortable shorting it, and I did take a short (I’m still holding it) and let me tell you something, just got another signal to go short:
Now, there are two things worth mentioning:
- Possible intervention of the Switzerland National Bank. Actually, there are intervening on the EURCHF not on the USDCHF. Take a look at it, at the daily chart, it is obvious that something is going on there. Now take a look at the swissy, its clear and its moves are smooth.
- Is scaling in a good possibility here? I really think so, the best moment to scale in is when the market moves on your favor, it is telling you: Hey, you probably made the right decision here, why not adding more? On the other hand, I think the worst moment to scale in (average down) is when the market goes against you. You are increasing the size of a trade that is not behaving the way you though it would behave.
What do you think?