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U.S. Dollar / Swiss Franc
Short

Failed Breakout

By mortdiggiddy
Updated
No explanation required. DXY TLT S6_F USDJPY EURUSD
Comment
Minimum target is the 38.2% retracement which happens to be very close to the 2017 close of 0.9744.
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Previous UCHF Short to Year Pivot
Seasonal Short
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200 D and 200 W SMA in the same area as the 38.2% retracement. snapshot
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Hanging around that ascending cyan channel midline toward the end of the day today... We may crawl up it then dive more but I am holding onto this trade until 9750.
My stop is placed at the recent high on Friday.
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Added a little more short snapshot
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Channel finally broken today. CHF is very strong against USD this week right away. 2017 close target remains. snapshot
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Still holding onto this baby. I have about 8 lots at this point short with an average price near 1.0000. Targets remain.

If EURUSD chooses to go higher, this is the prime target for shorts.
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I will close half at 0.9835 at the year pivot (thick cyan line in main chart window).
Trade closed: target reached
Dumped half position.
Comment
The 2017 close is the target @ 0.9750.
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First profit point was about 170 pips. Nice day. Took forever though.
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Moved stop down to today's high @ 0.9810. We are at a cluster of support here near the 2017 close of 0.9745. snapshot
Trade closed: target reached
All out on second half + 250 pips about. Finally done babysitting this thing.
ButterflyParallel ChannelPivot Points
mortdiggiddy
Find the edge.

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