The USD/CHF made a decent turn of direction a few days ago. I have been watching this pair for the opportunity to get back in for a retracement off of its longer term downtrend, and got the chance for it with a little patience.
I took on an entry at 0.8774 a few days ago and this pair has had a great run so far. My original target is still in at 0.9040, however current price action shows that it is running into some resistance right now and may start a retracement.
If the retacement comes in then I will be looking to take profit on a majority of this trade at current levels. But if it can squeeze out another break to the upside then I will be looking to fill my first target.
At this time there are no positions on except for this one and a short on the GBP/JPY in play. I am watching the S&P500 for some sort of direction as well as crude oil and gold /silver may be on the line for a breakout in either direction soon too. More to come.