It does seem like I get on a currency pair and stick with it for a good bit of time. I was looking at March's trade results (on the right) and noticed that I've only traded 6 pairs this month, one of those 6 (GBP/CHF) I only traded once! I think its because these pairs tend to stay in a tradable zone until something big happens and that might encompass 2, 3 or even 4 trades. Anyway, this post is about the EUR/CHF. You can see from the chart below that it is in a very tight range and has been for better than a day.
As usual, I'll buy above the top of the channel and sell below the bottom of the channel (top-1.5258, bottom-1.5185). I'll move this trade to break even at +30 pips (not the usual +50 pips) because this pair has not had big pip moves recently and I want to get some pips banked somewhat quickly. I'll use the other side of the channel for the stop loss and have a 10 pip trailer on it when (or if) it gets to break even. I'll keep you posted.
Happy Trading!
