2018May17 CHFJPY H4 Trend Continuation

CHFJPY has broken to the upside from the horizontal resistance at 110.422. I am looking for price to retest the previously broken resistance, expecting it to hold and become the new support. Stop loss is based on ATR x 2 while the take profit level has the same as the number of pips by default. I intend to manually cancel the buy limit order if price goes to TP1 before getting triggered.

Trade Setup: Trend Continuation
Price Entry: 110.422
SL 109.872 | SL pips 55.0
TP1 110.972 | TP1 pips 55.0
RRR1 1.0

Comment:

TP1 hit! :) (May 18)