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Taguspt

EURCHF 100pip swing move?

Long
Euro / Swiss Franc (OANDA:EURCHF)  
Taguspt Updated   
OANDA:EURCHF   Euro / Swiss Franc
Trend Analysis Chart Patterns longposition
2
0
trendanalysis chartpattern longposition
EURCHF just touched and reacted strongly to the area of the support trendline coming from September 2022.

Very high probability it will react strongly from here.

Opened a small long position targeting first resistance area around 0.9850.

Comment:
Trade still active and added a second position given the reaction from trendline support and a pinbar in the making in the lower timeframes (2H). Will see how it reacts, but if EURUSD keeps pushing forward it is likely that we see some correlation and EURCHF also rises.

My goal is to manage the trade with a tight SL below the latest pivot point in the 4H chart, take profit near the first resistance in one of the trades and let the other run with SL at breakeven, at least until the trendline resistance in the daily timeframe.

If the trade turns south, wont take any heavy risks and accept the loss with my SL set for 0.9770.
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