USDCHF Daily Chart, In Trade Analysis

This is a follow up to my trade set up on the USDCHF here. Overnight there was a decent movement since my entry at 0.93330 and price is currently at 0.93588. I moved my stops to 0.93530, locking in a total of 200 Pips.

Price is currently looking at a retracement, and can be clearly seen on the H1 chart. While I will wait for my stop to be taken out, I will be re-entering this trade as soon as the Schaff Trend Cycle switches to a bullish bias.

 

There could be a possible retracement to the 76.4% Fib and then price might get back to being bullish. Either ways, i'm happy with a 200 Pip profit and eager to ride this wave again. I'll be following up on this.

Possible entry could be at either 73.2 or if price drops a bit more, maybe a few pips below 73.2.