Good Friday

It has been hard staying out of the market since Tuesday but that is what I had said I would do so I have...

... until a peach of a trade started building on GBPCHF yesterday afternoon.

My backtesting on this pair has shown that having set out to regain par (1H 800 sma) fails, a 1H close back above the 62ema almost always (superior to 85% probability) results in a re-test of the 200 sma.

So, when I sawMACD starting to diverge from the price action, I focussed.


I took this trade on the 1H close, above the 62. Based on my testing I'd ordinarily have been happy to stake 2% of account, but it's a Friday (see earlier rules) and I've already had a good week.

As you can see, having closed above the 62, it didn't hang around long and inside 2 hours later I closed the trade when it hit the 200 sma for 79 pips profit.

Initially I was frustrated with myself for not having allowed the 1H candle to complete before exiting the trade (as I have in testing), but as you can see from the chart, it quickly reversed. It is, after-all, a Friday.

Bottom line, as Rob would say, is to take the easy pips. I have. I'm happy.