USDCHF Long - 30 March 2017 (posted on 2 April 2017)
Updated
Background:
- 2nd bullish reversal candle signal after 27 March at the trendline support and 200MA support.
- The bullish signal candle also closed the gap on the 27 March.
Entry:
- Buy stop set 20 pips above the 2nd bullish reversal candle off trendline support and 200MA support
- Set up triggered on 29 March 2017
SL:
- Set at 38.2 fib level of the 2nd bullish signal candle, which is also slightly below the gap
PT:
- Set at previous swing high @ 1.015
- However could take profit earlier at the blue highlighted area along trendline resistance
- 2nd bullish reversal candle signal after 27 March at the trendline support and 200MA support.
- The bullish signal candle also closed the gap on the 27 March.
Entry:
- Buy stop set 20 pips above the 2nd bullish reversal candle off trendline support and 200MA support
- Set up triggered on 29 March 2017
SL:
- Set at 38.2 fib level of the 2nd bullish signal candle, which is also slightly below the gap
PT:
- Set at previous swing high @ 1.015
- However could take profit earlier at the blue highlighted area along trendline resistance
Trade active
Updates - 8 April 2017:- This pair is doing very well, on the way to reach my intial PT @ 1.015
- Currently the price is sitting in the PT zone (rectangular box) and might consider to TP earlier with the impending channel resistance at sight.
Trade closed: target reached
Updates - 16 April 2017:- Trade profit take at 1.0089
- Currently price at channel resistance, which i could look for potential short trade.
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