USDCHF long trade on 11/7/22
Pre-Analysis:-
- Fundamental shows USD strong while CHF weak, this support the idea of a long trade. Correlation also shows USD stronger than CHF.
- Entry around 2:27pm prior to London opening.
Post Analysis:-
- This trade I took with a rush and decided to scratch it with loss of around $16.
- My mistake I did not wait for range prior to a lunch, which on one final element that I must wait and get confirmation.
- Now need to wait for any chance to reentry this trade.
- Time of this update 4:03pm (11/7/22)
Update:-
- I get in again when finally range develop and it broke to the upside of it.
- I took the trade as price surge aggressively to the upside approx. at 5:38pm
- Roughly at 9:38pm I able to move stop to breakeven.
Update:-
- Trade closed with small profit
- Unable to cover all loss of $16 previously
Update:-
- This trade able to gain profit but it surely will test your confident as price came back down to entry level before push up.
- This need to be mastered, only experience will tell.
