The exchange rate of this pair came close to a long term swing area which led to a reversal.
I am long with a small size and will continue to monitor the price action.
EUR/USD – Potential Support
Category: Forex Trades
EUR/CHF – Daily Chart – +200 pips
I noticed a few likes on a couple of prior posts – Thank you
I don’t trade this pair often, and when trading longer term charts my timing isn’t always as good as this.
I noticed it mentioned on FX Street and watched it for a few days. Decided to go long with a small position.
I brought the stop to +200 pips and it was filled. Now I am short.
CAD/JPY – Long Trade +90 pips
I do not trade this pair often. It was all about the chart.
For novice traders – What does 90 pips mean?
If you go to Google to find the pip value for a Standard Lot of currency, you’ll see that a pip is worth just over 9 dollars for this pair.
So that would be $810. In how long?
Notice that the entry and exit are marked on the chart. Each candle is 4 hours so we can easily figure out roughly how long the trade lasted.
