USDCHF continuing to make higher lows in an ascending triangle

27 mar 2019

LONG at 0.9940, S/L at 0.9880
USDCHF has been trading in an ascending triangle since early 2018. As of late, the pair has been trading in a narrowing range, making higher lows while facing strong resistance at 1.00-1.01. Entered a LONG position at the bottom section of the triangle after seeing price test the 0.99 level multiple times over the past two days, even forming a hammer with a particularly long wick signaling rejection of the support level. If price hits 1.01, plan is to move S/L up to lock in profits as there is potential for a break-out above 1.01.

31 mar 2019

Nota

Closed position, stubborn USD at near-term resistance 0.9950-0.9960

6 apr 2019

Nota

Trade would have been successful had I stuck to the daily chart while monitoring the position. Price ended up stalling a bit more at the lower boundary and eventually shot upwards.

11 apr 2019

Trade chiuso manualmente

19 apr 2019

Nota

Trade would have been deep in the money had I not closed the trade. Stubborn price at lower boundary of the triangle shouldn't have scared me out, needlessly monitored lower time frames and got scared out by intraday volatility.