This is a good straddle trade position in a consolidated area within a reasonable length of pips; length from top channel-line to lower channel-line is 0.00246 (246 pips), divide by three sections, the range size is 0.00082 (82 pips). Breakout buy entry (buy-stop) set to 1.23551, breakout sell entry (sell-stop) set to 1.23469, buy-stop stop-loss set to 1.23531, sell-stop stop-loss set to 1.23489, buy T/P target is set to 1.23633, sell T/P target is set to 1.23387.
Comment:
This straddle trade has the take profits on the candles. My last straddle trade example has a corrected version where the take profits are above and below the candles and only the breakout entry points are on the candles.