EURCHF Long term buy
Major support rectangular zone followed by a support line on the daily shows multiple tests; going bullish?
Trade closed manually
CLOSED IN PROFIT!Note
(For my journal) Fortunately I closed out early, but should always analyse higher timeframes and look at the current trend. Understandably, because price did not continue to make a new low, I assumed it would increase in price but because we're looking at the current trend, If I go back to 29th April. That was a major area for support, so ideally, if the trend is still below the 200 EMA, I should still be looking to go short.And that is exactly what happened, we approached that area, yes price did break through a fair bit but eventually we pushed back up to our resistance of 1.12598, if we had entered at 1.12093 as price started moving in our direction, we would've bagged 50 pips. Always follow the trend, don't trade against it. Wait until price is moving in our direction.
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