FX.co ★ USD/CHF

Hello traders, both beginners and experienced ones. Let's start our analysis of the USDCHF pair on the M5 timeframe. On my chart, there is nothing but the Relative Strength Index indicator, with a period of fourteen, using the standard value. The price is in the overbought zone, indicating that buyers are showing signs of exhaustion in their trend, with the RSI entering the 70 area. This happens at the price level of 0.78954. I enter the market with a couple of orders, accordingly splitting the trading volume into two orders. The first order is placed at the current prices, and the second one is placed after a small price pullback where we sell at the market price. My risk to reward ratio is always standard as well, with a minimum of 1 to 2. When the price approaches the target areas, I try to be at my computer; if the trade offers more than one to two, I trail with my hands. It is well known that the currency markets are full of false moves and price spikes. Therefore, my stop orders are quite wide - 20 pips, thus avoiding false moves. Wishing everyone a great trading day and all the best in trading!