2018Apr06 USDCHF H4 Trend Continuation
USDCHF is still on an uptrend. On April 3, there was a green candlestick which broke and convincingly closed above the previous resistance at around 0.95693. This level of resistance has been well respected in the past, March 20, 28, and 29. With idea of an old resistance becoming a new support and expecting a retest, I am placing an aggressive buy limit at that price. In addition, there was a successful retest of that level on April 4. Stop loss and take profit levels have the same number of pips with the SL below the recent swing low and TP1 within the recent swing high. I plan to manually cancel the pending order if price goes to the swing high before getting triggered.
Trade Setup: Trend Continuation
Price Entry 0.95693
SL 0.95043 | SL pips 65.0
TP1 0.96343 | TP1 pips 65.0
RRR1 1.00
Status/Remarks TP1 hit! :)
Trade Setup: Trend Continuation
Price Entry 0.95693
SL 0.95043 | SL pips 65.0
TP1 0.96343 | TP1 pips 65.0
RRR1 1.00
Status/Remarks TP1 hit! :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.