Looking to take advantage of price breaking out of a downward channel resistance zone.
Price has not broken the zone just yet, but it has bounced off of the 38.2 fib level with a convincing wick so I am will take enter the buy now (a bit prematurely) for that reason.
Here is the play I will be taking on this trade.
PAIR = EUR/CHF
ORDER TYPE = MARKET BUY NOW
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1.03841
STOP LOSS = 1.03680 - 16 PIPS
TAKE PROFIT = 1.04272 - 43 PIPS
Price has not broken the zone just yet, but it has bounced off of the 38.2 fib level with a convincing wick so I am will take enter the buy now (a bit prematurely) for that reason.
Here is the play I will be taking on this trade.
PAIR = EUR/CHF
ORDER TYPE = MARKET BUY NOW
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1.03841
STOP LOSS = 1.03680 - 16 PIPS
TAKE PROFIT = 1.04272 - 43 PIPS