USDCHF intraday trade progression
Ok, so how do I trade? I posted 2 USDCHF trades live on another website today and it is worth to upload the pics here with comments. So I am gonna show you an USDCHF intraday trade progression and the respective chart analysis.
The first trade was a bit late, also a bit early. Entry is indicated.
1. The second leg ended up lower than the first leg and I have not set a hard stop this time. However, I would not have liked price dip below the second leg, so I placed a stop just under.
2. Price moved in my favor and reached the first area of congestion. I placed my stop below the congestion area to protect 5 pips in the green.
3. The stop was hit, resulting in a 5 pip gain. I followed PA further and decided to enter with a 2 pip stop loss. I did not want price to dip below the low of the area of congestion once again since candles indicated a further move up.
4. Price moved in my favor once again and I moved my stop up to protect the position against loss.
5. While price was moving up, I did some homework, indicated developments on the chart and confirmations for further upmove.
6. Further thinking was done, a price projection was devised. 12 pips were in the green out of 24, the entire move so far.
7. Meanwhile noted that the previous day’s close was crossed over, observed the hesitation but kept the long, confirmed by a pattern showing us 2 functions: accumulation and stopout. The move points up, however, we would like price to move above the M15 candle with a pin. The move out of what I call a ghost pattern makes me assume that at least the high will be hit again. We also check the range of the last downmove (from yesterday). It shows 50 pips, not surprisingly. We also love ranges with 50 pips.
8. The top was hit and price moved above. Time to move the stop, 10 pips secured so far. It the stop is hit, a new entry will be searched for.
9. The close price barrier was not an issue, we are seeing a familiar pattern and hit Level 2. There is more time till session end, so I leave the trade alone. I take a look at the H4 candle for confirmation of direction. Level 2 is always tricky but this time there was no trick to consider. If there was, I would have closed the position even without adjusting the stop.
10. Stop is pulled up to 0.87562. If hit, a new entry would be searched for, likely according to H1 chart indication.
11. Price moved up further, so stop level was adjusted to secure 23 pips. Meanwhile the TP was set at or close to Level 3 price level.
12. TP level very soon to be hit and eventually it was hit soon.
The results is attached, I achieved another 5 pips with the first position that was stopped out.
Thoughts were shared and chart annotations show additional information on how I track price and make decisions.
I hope you will learn something from these charts!













