Asset: USDCHF
Time frame: (4 hours and 1 hours)
Date & Time: 22 Aug 2018, 16:15 GMT+9
Starting Balance: 3157.96
Graph Showing entry and exit points
Fundamental Analysis
Fundamentally USD is a bit weak because of Trump comment but the effect already seen on the market.
On 22 Aug, delegates from china is meeting US officials to discuss about how to stop trade war but trump on said on reuters that ON CHANCES FOR PROGRESS IN TRADE TALKS WITH CHINA THIS WEEK
“I don’t anticipate anything coming out of it.”
All eyes on tomorrow event of China US meeting.
Trump comment was on 20 , and from past experience till 2 days president comment does effect so from today prices of USD should rise up.
Technical Analysis
Technically it’s an ideal point to go for buy as 0.9831 is very strong support line.
Money Management & Mindset
Entry price: 0.9831
Stop loss : 20 Pips
Take profit: 143 Pips
Risk to reward ratio: 1:7.166
My feelings:
Since Trump is totally in the mood of Trade war, Going again dollar is not a good idea at present. So buying at strong support line at 0.9831 is a good decision. Keep your risk to below 2% level.