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USD/CHF – 1 hour chart buy trade update

USD/CHF – 1 hour chart buy trade update
Wednesday, April 13th, 2016 @ 7:45 pm by Muhammad Azeem

About Muhammad Azeem:

Muhammad Azeem Mr. Azeem is a pure technician and solely employs technical market analysis in trading. He believes that the news is just the catalyst for technical events. In his opinion, prices are so far ahead of any news story as every conceivable fundamental possibility has already been discounted. Muhammad is a regular participant in the FX Instructor Live Trading Room.

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4-13-2016 12-57-47 AMI took a buy trade in USD/CHF currency pair, yesterday. My trade was based on Elliott wave analysis. There was a  possible Ending Diagonal present. So, I went long and  market did move in my favour.

As price has moved in my favour, I have locked in +38 pips profit and I am waiting for the market to reach my take profit level at 0.9678 area. To me; it is now a free trade as I have raised my stop loss
and now using a protective trailing stop. For my buy trade status, entry order, trailing stop and take
profit level,see the attached screen shot of my trading terminal.

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