I'm still in my long position from .9338 and I added another position yesterday at .9490. The rally through resistance at .9500 and .9593 seems to have caught a number of traders by surprise. The high so far this morning is .9645. Now the pair has to fight through some interim price resistance up to the downtrend line coming in from August at .9872. After that is the November high of 1.006. So far, at least, the pair seems to be fulfilling its seasonal tendency for the USD to rally against the Swissy in January.
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My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.