USDCHF 12-27-06

12-27-06

USDCHF

There was a possible short entry yesterday evening at the high of the range near 1.2220. The low so far today is 1.2160. It was a trade that could have stopped you out depending on the placement of your sell stop using a 10 pip stop loss since the high was 1.2236. If you entered at 1.2119 at 2:00 PM yesterday, you were stopped out, but if you entered at 5:30 PM, your trade was a 60 pip winner. That is a fact of life in trading. I am still looking for the USDCHF to trade in the 1.2145 to 1.2220 range today. I would only enter either trade if those areas are reached.