USDCHF H4 Chart
USDCHF M15 Chart
Technical Analysis: The price has retraced since it broke above the key falling trendline and is currently supported at the top of the trendline and seated withing the first minor support zone.
In M15 chart, the price has made 2 minor retracements after the market impulse.
Market Sentiment: Dollar has gained some traction as seen from the appreciation from USDJPY and the depreciation of GBPUSD, and of course USDCHF itself. The trend has probably started off with a bullish dollar.
Trading Plan: Entered half-risk as the time of execution is not within market hours.
Stop loss is set 20 pips below the 2nd minor support zone in case the price goes for another major retracement.
Waiting for the time to reach market hours to enter the remaining half-risk.
Key take profit level is seen within the resistance zone starting from 0.9889.
[05/10/16-12:58] Entered remaining half-risk as the price was supported at previous low and began rebounding off.
[18:58] Exited half position as the price has broken below the previous low.
[20:56] Re-entry half-risk to match full risk as price completed 2 major retracements.
[06/10/16 21:38] Full Exit due to obvious wrong analysis and since the price has recovered enough to reduce loss.
Result: 0.21% loss
Never leave a running trade unattended when it has not profit enough to shift stop loss to reduce loss.