Let’s refresh the information and the chart of the Dollar index we gave you 2 weeks ago.

Last week’s analysis:

The Federal Reserve leads the way yet again but this time without signaling any further rate hikes. How much truth is there in the actual statement and why is the Dollar falling even though we had an increase in the interest rate. We need to remember that this particular rate hike was already accounted for by most analysts and traders. What the markets were looking for was any prompts about the next bouts of an interest rate hikes and this did not happen hence the Dollar took a dive. So what is next for the Dollar is the big question and while most traders remain in a land of confusion we are very clear about the longer term picture and that is we still believe that there will be Interest rate increases this year.

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 forex USD 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:

swissy-image-1

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.

How to trade the Swissy

A) Place an alert in accordance with the Swissy chart above at 0.9870

B) Place an alert in accordance with the USDX chart above at 99.15.

C) When your alert triggers check the Dollar index and Swissy The entry on Swissy is @ 0.9850 so you want to have a 20 pips early alert so you can assess the current situation.

D) Place no more than 40 pips stop loss when you enter the trade on Swissy and aim for a minimum of 250 pips for this trade.

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:

USDCHFDaily-LTA-03.04

Swissy Trade second opportunity:

From the chart, you will notice that the Forex 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 Forex USD 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:

  1. A) Long the USD/CHF @ 0.9920 or the nearest zone with a 40 pips stop loss and a target of 1.0170
  2. 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 Formula:

Perfect Fundamentals + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management = Perfect Trade

 


 

The Platinum Way

At Platinum Trading Academy, United Kingdom, we teach all individuals from different walks of life to become a full-time trader or create a secondary revenue stream by trading part-time. We trade in an Institutional Way by letting the market come to us and being patient. Using Platinum’s Trading system you can take many Pips out of the market. We can ensure using this style of trading your trading will make a turnaround as you will become much more consistent.

If you want to trade like the professionals do, making consistently profitable returns from your trading, get in touch with us and we will demonstrate live exactly how we approach the markets.

Download our free ebook to read about the various Trading Patterns that work in the Financial Market. Watch Trades of the Week Videos in our video gallery. Subscribe to  Platinum’s Forex Newsletter.

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day!

Nisha Patel
Live from the Platinum Trading Floor.

Want to take your trading to the next level?

It all starts with our Free Forex Consultation!

BOOK YOURS TODAY!

Get the latest FX Trading Market Reports and Views, Forex Trading Videos, and Forecasts of Forex Trading Opportunities delivered straight to your Inbox!