USDCHF: 4H possibly leading to a larger daily rally
Updated
The 4H timeframe looks appealing here in USDCHF. I'm holding a daily long entry, and speculating on it triggering a larger rally that can last 2 weeks, and reach the vicinity of 1.02332. Currently my stop loss is below the recent low in the daily, but we can look into adding and trailing stops higher once we have further confirmation in a day or two. This trade serves as a hedge for my intermediate term 
XAUUSD longs, which I've been holding ever since I called the bottom in precious metals (see related ideas).
A pullback in gold would be a nice opportunity to add and buy back silver and mining stocks as well. Keep an eye on those in the coming weeks.
Cheers,
Ivan Labrie.
XAUUSD longs, which I've been holding ever since I called the bottom in precious metals (see related ideas).A pullback in gold would be a nice opportunity to add and buy back silver and mining stocks as well. Keep an eye on those in the coming weeks.
Cheers,
Ivan Labrie.
Trade active
4H signal flashed a buy at 0.99585 once again, stop for all trades can now be moved to 0.99446.The daily trend might be active, and if that's the case it will reach 1.02332 within 15 days as per my daily chart above.
Comment
The 4H signal target #1 was reached and it was the top of the day so far (quite logical), but daily implies potentially way larger upside, so we can wait and see.Comment
Comment
Comment
Potential maximum upside is higher than the range target, but lower probability to be attained...although if reached, it'd likely be the top.Trade closed manually
We closed manually last night, sadly I didn't update it here on time.
Now the daily trend signal failed, the dollar is likely to go down from here, long term.
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