"Forex trading could be your key to financial freedom if you could consistently earn pips and at the same time realising the power of compounding".- Harwin Poon


Sleepy Me

EUR/CHF went sideway since the last 8 hours, almost formed a flatline on 1hr chart.
Though it closed above the 38.2 fib (1.6580), I didn't open any buy positions, because the CCI was way way up the overbought zone at that time.

The situation right now on 4hr chart is that the price penetrate above the resistance (middle channel) level, and that level now turns into a support level. Price having a hard time crossing down the middle channel, but indicators still on the OB zone. And I need to hit the sack now.

So here's what I did. I opened a 1% risk short hedge (both sell positions) and a 5% risk long hedge (both buy positions). Since EURCHF is at a consolidating phrase right now... soon it will make a breakout. If it went down, I'll gain some few pips from the drop, while holding a drawdown from the long positions. On the other hand, if it went up, the gains from the long hedge positions will offset the short hedge position's loss.