Let’s refresh the information and the chart of the Dollar index we gave you 2 weeks ago.
The Notorious Fed
The Fed has always been of the nature to act when the pressure builds up and believe us when we say this the pressure is on. We are sure that they will be observing how the markets and the economy are currently behaving and also in a good shape. We believe there will be a surprise hike in May 2017. As Traders, we should try and understand the current situation on the dollar and try and take maximum advantage of the current profit taking move on the dollar.
After that information, we mentioned how, using our Platinum Trading method, you could use it to your advantage and gave a step by step on what to do. This is the kind of in-depth analysis and details our current clients enjoy on a daily basis.
Right now, all of our Platinum clients should be sitting in a long position on theSwissy with over 150 pips in profit and at breakeven.
The chart below was the chart given on our Platinum Trading Floor for this trade:
As the Dollar index approach that 99.15 support already mentioned, Swissy is showing a possible double bottom formation and the currency pair is approaching a very strong demand level at 0.9850.
But all of that is now past and I am sure you want to find out how you can profit from the second opportunity. This week, on Monday morning, all our clients received the chart below:
Swissy Trade second opportunity:
From the chart, you will notice that the USD/CHF has rejected support at 0.9815 and may have now resumed the uptrend. We are already long this pair from 0.9850 with our stop at breakeven. This trade is an add-in position and for those who are not in this move yet, it is a second opportunity to get on the flow. The momentum is bullish again on the US Dollar and we will favour positions at the 50% Fib retracement level @ 0.9920.
We have also outlined the various major supply and demand areas on the chart which you should place alerts on.
How to trade the Swissy:
- A) Long the USD/CHF @ 0.9920 or the nearest zone with a 40 pips stop loss and a target of 1.0170
- B) Trade the trap zone with a 30 pips stops loss and aim for 50 pips
At Platinum Trading Academy, we our team of analysts and full-time traders analyse and trade the markets every day and train our clients to learn the Platinum Methodology which basically is to train you to get to this level of trading you can see above.
To learn how to trade the Swissy to its full potential and how we manage this set up at Platinum click here.
The Platinum Way
We trade in an Institutional Way by letting the market come to us and being patient.Being patient will always be a virtue and it’s no different in the FX market. We can ensure using this style of trading your trading will make a turnaround as you will become much more consistent.
Learn how to trade the Platinum Way. Find out more about our Courses.
Download our Free eBook that reveals the secrets on how professionals make millions in the financial markets.
Book a Free Consultation and let us talk you through the Platinum Methodology.
Have a beautiful day and an even wonderful week!
Live from the Platinum Trading Floor.
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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.