USDCHF trade @8:30am GMT this morning

USDCHF has been in  a nice strong daily uptrend.

4 hourly is also bullish.

So a good solid trade when the news breaks. Bullish I should think but worth scalping the news at 8:30 am GMT

It looks like neutral/bearish news from the SNB (Swiss national bank) (clicky) which would further increase the trade bullish. But a trade on at any time before 8:30 is going to be a risky move so I would suggest waiting for that.

OK Result.

Boringly the news was as expected, no change but there was a fast bearish move on the pair with a great big negative pin bar. I had two longs on one placed after the news and made about 30% profit on the retrace to level at 0.5470 or so. No news is…after all…no news.

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