Swissy Finally Breaks...

Having strategised last weekend about a possible short on USDCHF I had been getting frustrated as my rising support line repestedly turned the pair back to the upside.

Well, on Friday it finally got well and truly breached.

Given this pair's stubborness to comply (!) I sat on my hands and entered on the 4H close, and as it stands I am currenlty carrying a small loss.

Now from here, it could easily be turned back by either the 200 sma or 800 sma just below it, then retest old support as resistance... in which case I would be sweating if carrying a big position, so I've kept it small initially (1% account).

Or it could just tank, in which case I'll be looking to add positions on 4H closes below the support lines shown on this chart (to see clearer just double click).


My final, aleit heady target, would be the support line at 1.08677.

We shall see...