CHF

It's fair to say I spent much of the last Week sitting on my hands. The 2 currencies taking centre stage have been the Japanese Yen and the Swiss Franc which is exactly as I suggested in last Week's trading review. As the latter has some quite significant risks attached to it in  the form of SNB's (so far weightless) promise to intervene, only the short Yen trade offered

I've entered a GBP:CHF Swing Long Position today based not on my system but through seemingly bullish Technical's on most time frames. I prefer to take swing long entries from levels that have proven themselves as support but I've not done that in the case of GBP CHF which put's me slightly outside of my comfort zone but does still allow for tight stop losses were I to choose a low risk option for this trade. Firstly it's the 4 hourly chart that attracted my attention: A clear breakout of

It's unfortunate that the AUD:CHF swing short was stopped out for a 100 pip loss making this trade the 2nd official losing swing trade since blog inception. As and when time allows I will re-evaluate the whole set-up that originally got me into the trade in order to find ways of avoiding a similar loss, but in all honesty, I've taken many winning trades from almost identical set-ups so might have to just call it a bad trade.