Wednesday, January 26, 2011

USDCHF—second test of .9400

Since yesterday, the Swissy has made two tests of the .9400 psychological barrier on the three-hour chart. If it loses this fight, the next support is the 12/31 low of .9301. Beneath that are price targets in the .9000 area.

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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.

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