MARKET ANALYSIS - Trading a major

MARKET ANALYSIS - Trading a major

14 February 2020, 12:47
Daniel Stein
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MARKET ANALYSIS - Trading a major

Today we are going to trade the USDCHF

FXT_USDCHF

The important trends from M15 up to D1 are all BUY with a high intensity. 


So let's have a look at FX Power

FXP_USDCHF

There is a clear uptrend with a moderate and rising Delta since around 24 hours.


And what about the support and resistance levels? 

LH_USDCHF

There is more than enough space until we are facing the next resistance level.

So let's enter this trade with a risk-reward ratio of 1:2


This is how all three steps look in one research chart.

USDCHF


FINAL RESULT - 6 Pips

After a positive beginning USDCHF was not able to gain more power and the FX Power currency strength delta dropped as well.

So I closed this trade with a small minus of 6 Pips but seeing this in hindsight it would have been better to stay in.

USDCHF_result2


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All the best and happy trading
Daniel

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