The London session is in full force and the only solid trade setup we are trading today is USDCHF.
TRADE DETAILS
ENTRY 0.98389
SL 0.98523 ( pips 14.2 )
TP 0.97870 ( pips 51.1 )
The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is pretty big on the 4H chart, but is supported by a minor one on the 1H.
As soon on the 4H chart (right) we have plenty of resistance levels (3) which all acted as either strong supports or resistances the last time price came up to this level!
It's important to note that the EMA has not been breached yet on the 4H, its acting as a support still.
TRADE DETAILS
ENTRY 0.98389
SL 0.98523 ( pips 14.2 )
TP 0.97870 ( pips 51.1 )
The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is pretty big on the 4H chart, but is supported by a minor one on the 1H.
As soon on the 4H chart (right) we have plenty of resistance levels (3) which all acted as either strong supports or resistances the last time price came up to this level!
It's important to note that the EMA has not been breached yet on the 4H, its acting as a support still.
Comment:
Right now we have a retest of the EMA on 4H chart happening... 1H found support at at 38.2%.
Comment:
We are INCREASING TP TO 0.97650!
Trade closed: target reached:
Take profit reached but we turned SL into a TSL and riding to 0.97890