After respecting the resistance of a bearish
EURCHF
channel 3 times, the price has finally confirmed a complete candle outside of it, and that means only one thing: the channel is broken in favor of bulls. The most sensible thing to do is to enter long ASAP because it's a confirmed break, but a better strategy would be to enter a small market order position and then wait for a sweeter entry spot, as experience shows that patience is the key in these situations. After that we use the already spotted pivots to guide us through this long. Use the notes on the right of the lines as a guidance of managing your position.
Initial SL: 1.15751
Disclaimer: all ideas are a reflection of my own trades. This is not a signal service and has no legal effect if you lose money because of it. If you lose money that means I lost money as well. Know your risks.
EURCHF
channel 3 times, the price has finally confirmed a complete candle outside of it, and that means only one thing: the channel is broken in favor of bulls. The most sensible thing to do is to enter long ASAP because it's a confirmed break, but a better strategy would be to enter a small market order position and then wait for a sweeter entry spot, as experience shows that patience is the key in these situations. After that we use the already spotted pivots to guide us through this long. Use the notes on the right of the lines as a guidance of managing your position. Initial SL: 1.15751
Disclaimer: all ideas are a reflection of my own trades. This is not a signal service and has no legal effect if you lose money because of it. If you lose money that means I lost money as well. Know your risks.
Trade closed: target reached:
Final target reached. 120 pips of profit in 2 days.