(J) Trade 4 : GBPCHF Breaking Higher #forex
Trade summary:
Buy 0.3 at 1.4440, closed at 1.4540. = $320.07
Buy 0.3 at 1.4420, closed at 1.4540 = $384.08
Buy 0.4 at 1.4440, closed at 1.4492 = $223.65
Rollover= 8.4+8.4+14.94
Total Profit= $959.54
Balance= 29,403.16 + 959.54 = 30,362.70
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Update 6: Closed rest of position at 1.4492.
Update 5: Watching UK CPI number, If CPI (Y/Y) < 0.2 I will close the trade immediately at market price.
Update 4: First target reached. I am closing 0.6 of position, moving stop loss to break-even on the remaining 0.4. s14.postimg.org/c4gt7ovg1/gbpchf.png.
Update 3: New pending long at 1.4420 was triggered. All position is active(1 lot). Stop loss at 1.4355.
Update 2: I am adding another 0.3 lots to this trade buy limit at 1.4420 , and that makes near 3% risk of balance.
Update 1: Trade is Active
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Trade 4: Pending Long GBPCHF @ 1.4440
S.L @ 1.4355
T1 1.4540
T2 1.4670
Rule 6 doesn't apply to this trade. (If 90 percent of first target is reached without triggering entry I cancel the trade) So i wont cancel the trade if first target is reached without triggering entry.
But anyway keep posted for my updates
For 29,400 Balance, and 2% risk per trade=$588, Position size = 0.7 lot ( 0.4+0.3)
==================================================================
Reasoning
Wish me luck and best of luck for everyone.
Don't forget to click the Thumbs Up
For Trades rules and guidelines follow this link
My best regards
Technician
Subscribe to my trading portal thefxchannel.com
Buy 0.3 at 1.4440, closed at 1.4540. = $320.07
Buy 0.3 at 1.4420, closed at 1.4540 = $384.08
Buy 0.4 at 1.4440, closed at 1.4492 = $223.65
Rollover= 8.4+8.4+14.94
Total Profit= $959.54
Balance= 29,403.16 + 959.54 = 30,362.70
=======================================================================================
Update 6: Closed rest of position at 1.4492.
Update 5: Watching UK CPI number, If CPI (Y/Y) < 0.2 I will close the trade immediately at market price.
Update 4: First target reached. I am closing 0.6 of position, moving stop loss to break-even on the remaining 0.4. s14.postimg.org/c4gt7ovg1/gbpchf.png.
Update 3: New pending long at 1.4420 was triggered. All position is active(1 lot). Stop loss at 1.4355.
Update 2: I am adding another 0.3 lots to this trade buy limit at 1.4420 , and that makes near 3% risk of balance.
Update 1: Trade is Active
=======================================================================================
Trade 4: Pending Long GBPCHF @ 1.4440
S.L @ 1.4355
T1 1.4540
T2 1.4670
Rule 6 doesn't apply to this trade. (If 90 percent of first target is reached without triggering entry I cancel the trade) So i wont cancel the trade if first target is reached without triggering entry.
But anyway keep posted for my updates
For 29,400 Balance, and 2% risk per trade=$588, Position size = 0.7 lot ( 0.4+0.3)
==================================================================
Reasoning
- Breakout above horizontal resistance and 50-days Simple average
- Falling wedge breakout
- Pin bar at retest
- New higher highs and higher lows structure was established
Wish me luck and best of luck for everyone.
Don't forget to click the Thumbs Up
For Trades rules and guidelines follow this link
My best regards
Technician
Subscribe to my trading portal thefxchannel.com
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