Long

GBPCHF LONG SETUP

Updated

GBPCHF hit a 4 hour uptrend bottom before breaking down a consolidation area, we see that it is already reversing, heading for the resistance of the consolidation(tp1)..We can place a safe stoploss some pips below the 4h bottom that was formed, or a tight one below the 15m higher low that was formed. During the trade we secure profits on the marked areas, which consist of support and resistance areas.

Note

tp1 hit

Note

if you would have changed the SL above the entry, it would had been stopped, but if not, there is still potential of hitting tp2 and 3

Note

you can still enter because it hit the bottom of the uptrend that the leg is forming

Trade closed: target reached

tp1 hit, the rest stopped above the entry

AdrianPetrea

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