Hello
Trade of the Week: USD/CHF H1: 10-12 March +8.5% Profit (+337 pips)
This is a great campaign on USD/CHF, on the 18th (FOMC report day) at Francfort open, I have a tight fractal box and the ewave is about to cross the zero line, this is a H1 setup. I check on H4, the ewave is also on the way to cross the zero line (and H1 <span class="glossarylink">
<a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=pending+order" onmouseover="return overlib('An order that will not execute until the price reaches a level selected by the trader. Forex Traders Glossary');" onmouseout="return nd();">
<img class="inlineimg" src="images/styles/f4/misc/vbglossarlink.gif" border="0" /></a> <a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=pending+order" onmouseover="return overlib('An order that will not execute until the price reaches a level selected by the trader. Forex Traders Glossary');" onmouseout="return nd();">pending order</a>
</span> is below the H4 red line, price has some space to move to reach the H4 limit as well), therefore this is a double H1/H4 cross of the zero line! I take the H1 break, the price drops slowly forming a new sell fractal, I take a second entry below that fractal (this is also a double break H1/H4) with a <span class="glossarylink">
<a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=stop+loss" onmouseover="return overlib('A price you enter on your trading platform to limit the maximum amount of pips you can lose on an open trade. If the price moves against you and touch [...]');" onmouseout="return nd();">
<img class="inlineimg" src="images/styles/f4/misc/vbglossarlink.gif" border="0" /></a> <a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=stop+loss" onmouseover="return overlib('A price you enter on your trading platform to limit the maximum amount of pips you can lose on an open trade. If the price moves against you and touch [...]');" onmouseout="return nd();">stop loss</a>
</span> above the red line at 45 pips as we are in an investing mode, the price drops. Before the <span class="glossarylink">
<a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=FOMC" onmouseover="return overlib('Federal Open Market Committee. Consists of the Fed Board of Governors plus 5 of the 12 Federal Reserve Bank presidents. They set the key interest r [...]');" onmouseout="return nd();">
<img class="inlineimg" src="images/styles/f4/misc/vbglossarlink.gif" border="0" /></a> <a href="https://www.forexpeacearmy.com/forex-forum/vbglossar.php?do=showentry&item=FOMC" onmouseover="return overlib('Federal Open Market Committee. Consists of the Fed Board of Governors plus 5 of the 12 Federal Reserve Bank presidents. They set the key interest r [...]');" onmouseout="return nd();">FOMC</a>
</span> report (like NOFP news), my strategy is to sell half of my position to reduce the risk, then the news came and go in my way, cool. I exit above that huge BDC for a total profit of +8.5% (+5.5% and +3%) and +337 pips (+187 and +150).
N.B. I could have taken my profit (or half of them) when the prices has reached the D1 red line.D1 alligator lines are excellent SL and TP.
Video of the trade:
[video=youtube;i13tFfxzCrk]https://www.youtube.com/watch?v=i13tFfxzCrk[/video]
Cheers