I have entered a long position on USD/CHF following a confirmed breakout and close above the descending trendline on the 4-hour timeframe. The breakout signals a potential shift in momentum, with price now reclaiming key levels.
*Entry:* 0.88290 (Breakout confirmation)
*Stop Loss:* 0.87812 (Below recent structure support)
*Risk Management Level:* 0.88075 (Adjusting SL if price moves favorably)
*Target Levels:*
TP1: 0.88576 - Moving SL to BE at this point to manage risk
TP2: 0.89082
TP3: 0.90329
TP4: 0.91448
*Trade Rationale:*
*The breakout above the descending trendline suggests a shift in market structure toward bullish momentum.*
*Risk is managed with a stop below recent lows, allowing room for volatility while protecting capital.*
*Targets are aligned with key resistance levels where price may react.*
*Entry:* 0.88290 (Breakout confirmation)
*Stop Loss:* 0.87812 (Below recent structure support)
*Risk Management Level:* 0.88075 (Adjusting SL if price moves favorably)
*Target Levels:*
TP1: 0.88576 - Moving SL to BE at this point to manage risk
TP2: 0.89082
TP3: 0.90329
TP4: 0.91448
*Trade Rationale:*
*The breakout above the descending trendline suggests a shift in market structure toward bullish momentum.*
*Risk is managed with a stop below recent lows, allowing room for volatility while protecting capital.*
*Targets are aligned with key resistance levels where price may react.*
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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.
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.