Wednesday, September 16, 2009

GBP/CHF - Another textbook trade

Hello folks! Yesterday was an OK day. I tried shorting the GBP/CHF, but I got stopped out as price decided to go try the 200 EMA first(as you can see). Today, however, presented a really textbook trade. A nice breakout of the channel, and a retracment back to it, couple with a retracement of a breakout on the EUR/GBP provided a really easy no-brainer trade. To be safe, I put my order about 15 pips below the trendline. End result: 70 pips at the double bottom.
I think I have a new favorite currency!

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