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Trade posted to TAP at 8:52am ET buy USDCHF at 1.0038. This is a counter trend trade based on reversal indications. First indication was support at the 1.000 level, second is the engulfing candle formation on the 4hr chart, third is the break of the 30 minute trend line and retest for the bounce.
As this is counter trend will look to protect the trade fairly quickly near the 1.0060/70 area. If I see a break of 1.0070 will then look to 1.0100.
USD/CHF 4hr Chart Picture
USD/CHF Chart Picture
