USDCHF Update

[Read this trading setup first: USDCHF]

I decide to open 2 (two) short position on February 11. Price formed an Inside Bar on the daily chart. My order is below the mother/housing candle a day before the inside bar with the stop loss above the mother/housing candle. Price break the low of the housing candle and my trade got triggered. Unfortunately, price then moved up and hit the stop loss level. 

Looks like, price on USDCHF respected the area around 0.9715 or the area with the blue mark. There to many “traffic” or rejection at that area. This is the level that been respected several times in the past. There is clear Pin Bar on the daily time frame rejected that area.

OP: sell 0.9688, SL: 0.9878, TP1: 0.9540, TP2: 0.9350

Result: price hit the stop loss level at 0.9878 for -380 pips (from 2 positions) 

USDCHF daily chart

USDCHFDaily-160216

 

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