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Dynamic Trader Blog - Forex Chart Pattern Signals

Friday, October 31, 2008

Swissy breaks resistance!

Good afternoon Dynamic Traders,

The USDCHF broke the resistance level this morning and has potentialy found a new resistance at an 886 fib cluster. As it's Friday it'll be wise to wait till Monday before opening any new positions but this pair is one to keep an eye on for next week.
Note: this is a great example of when the maket doesn't move as anticipated but by having a solid trade plan and following all your rules you should still have made a small profit or at least been stopped out at break even.

Always keep in mind, capital preservation is one of the key skills of a successful trader.













USDCHF forex chart from Advanced Get

Good trading.

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