In today's blog post I'll want to take the time and speak in more details about another trade that I had which was long EUR/CHF. Despite the general euro weakness across the board EUR/CHF was heading up quite nicely, and most likely SNB was bidding up this pair in an attempt to prevent for further CHF appreciation. My reasoning behind this trade was that once EUR/USD will pause this would take the pressure away from EUR/CHF and it can trade higher. However even thought we have a shallow retracement in EUR/USD, we didn't saw much action in EUR/CHF either.

This being the case, it was very suspicious and it has invalidated my hole premise behind this trade and thus the market was sending strong signals that I may be wrong so I decided to move my SL at BE+. I was lucky enough to be able to get out of this position without any damage to my account balance becasue as soon as I was stopped out the market has started to break to the downside.

Figure 1. EUR/CHF 1h Chart.


Best Regards,
Daytrader21
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