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Michael Shepherd
Attended San José State University
Lives in Monterey, CA
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Michael Shepherd

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Great USDCHF trade this week!

My two entries at 0.9115 were based on a confluence near that area of the 50 Fibonaccci, the highest close of resistance on the daily chart, and the round number 0.9100.

I took profit for one position at 0.9130. I then took profit for the second position at 0.9197 because price was struggling to get above the daily highest close of resistance level at 0.9200, and it was a Friday. If price can close above 0.9200 on the daily chart next week, then I may use this level as a long entry provided that it lines up with a fibonacci level or a moving average.

Annotated chart below.
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Senior Technical Writer, Forex Trader
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  • Senior Technical Writer, Forex Trader, present
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Monterey, CA
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Christ. Stephanie. Psalms. Jazz. Poetry. Forex.
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  • San José State University
    English: Career Writing Concentration, 1998 - 2000
  • San José State University
    Minor: Technical Writing, 1998 - 2000
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