I’ve decided to close my GBP-CHF trade. As a reminder, I was waiting for this pair to go down to 2.0580 with an intention to buy there. Price indeed fell an I got filled at 2.0580. I expected far stronger rebound, however. Now, that my trading day is over, a decision must be made whether to hold out for my target, or to take a few pips here and look for something else.

A got out at 2.0620 for 40 pips gain. Nothing great, but a profit, so nothing to complain about. I’ll keep an eye for more action here.
In the meantime, another CHF cross looks interesting. EUR-CHF seems to be ready for a breakout.

I placed a sell order at 1.6315. Projected target is 1.6370. Word of explanation here. Normally I would stay with my GBP-CHF trade, but as it the end of my day and currently I don’t see another good entry point in it, I switched. In other words, I guess my conviction is not strong enough to stay in that trade. The old saying goes: “when in doubt-get out”.

Mike K.