The 4-hour chart of EUR/CHF is showing a a symmetrical triangle pattern. It can be used for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper angle (0.93490). I will ignore bullish breakouts from this trend-continuation formation.
Trade active:
Short entry triggered today on a (false) breakout at 0.92842 with SL at 0.93490 and the current TP (subject to update every 4 hours) at 0.91916.
Trade closed: stop reached:
Stop-loss reached today at 13:30 UTC.
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