Closed EUR/CHF

Closed EUR/CHF trade. On the hourly chart it could be setting up a head and shoulders pattern. If that happens I wouldn't be surprised for it to retrace up to 1.5830.

The 15 minute timeframe is messy because of the rate cut, but looks like it's making a deformed inverse H&S. And it also can't make a lower low. I set my stop to 1.5770 and got stopped out.

The trade made 69 pips and the return on my account capital was 2.08%. So I need to make 7.92% to make my December goal.

















My EUR/USD stop (orange circle) was at 1.3430. Price it 3429 before reversing and making a huge move higher. Having a idea of where price is going isn't the hardest part about trading. The hardest part is trading that price. You need to find good entry and exit points and manage risk.

In the case of EUR/USD I forgot the big picture. It looked bullish on a daily timeframe but I was trying to trade in a shorter timeframe.