The CHF had the makings of a good trade, but the momentum faded quickly. Well into the US session, a long setup is found with a better than 3:1 Reward to Risk to our Target 2. We enter the trade with ninety minutes left in the UK trading session. The trade moves up and after the European traders finished their day, the momentum appeared to leave the market. We are closed when price hits our “profit stop” for 20 pips.
Good luck with your trading!
Back tomorrow if we find a trade.