CADCHF has been on an uptrend since March 5. The support of both the longer (steeper) and shorter (less steep) term diagonal uptrending channels have been broken with a red candle closing at 0.77605. As such, I am placing a sell limit order at that price. Stop loss is based on ATR x 2 while the take profit level has the same number of pips by default. I will manually cancel this pending order if price goes to TP1 prior to getting triggered.
Trade Setup: Trend Reversal
Price Entry 0.77605
SL 0.78105 | SL pips 50.0
TP1 0.77105 | TP1 pips 50.0
RRR1 1.0
Trade Setup: Trend Reversal
Price Entry 0.77605
SL 0.78105 | SL pips 50.0
TP1 0.77105 | TP1 pips 50.0
RRR1 1.0
Trade closed: stop reached:
SL hit! (May 22)