On my RSW chart, EUR/CHF looked like a pair that was moving opposite from each other, so I took a look at it’s chart. This had been down-trending overall, pushing down since March 2021, save for some chop from March – June this year, but since June it’s been pushing down strongly again. Price was up a little on the day, but approaching a resistance area that was support in the past. It looked like a good area for price to bounce off of and return to the downside, so that’s what I looked for.
Entry – .97750
Exit – .97793
Looking down at the minute chart price had a rally, pushed down to support, then had another mini rally around that support area, so I put in an entry order on the break of that support. After entering the trade, price hovered around my entry for a few minutes before pushing up and stopping me out of the trade. I, again, used a trailing stop, so it wasn’t a full position loss, but a loss all the same. After my trade, price pushed up above my stop and ranged for a few hours, so I, seemingly, wasn’t even on to something with this one. 🤷🏽♂️🤷🏽♂️
