Hey, I am able to analyze that the price action on EURCHF has been range bound lately with USDCHF near the key level of 1.0000 psychological level.
So if USDCHF fails at 1.0000 again this may also lead to the weakening on EURCHF when the dollar strengthened and EUR weaken which can be seen on EURUSD correlation.
Price has been range-bound and a series of higher low and lower high as been seen, and right now, it present a very good not time limit breakout set ups for both buy and sell trades to be taken.
So the price for sell stop below the range support 1.1300 or 1.1293 are good levels to consider loading the sell orders, for myself I prefer taking the earlier sell breakouts and see if the price can cracks below 1.1293 level if it does, this will present a very good risk-reward of 30 pips for 40 for TP 1 and probably another 100 pips for TP2 !
So are you in with me breakout traders??
So if USDCHF fails at 1.0000 again this may also lead to the weakening on EURCHF when the dollar strengthened and EUR weaken which can be seen on EURUSD correlation.
Price has been range-bound and a series of higher low and lower high as been seen, and right now, it present a very good not time limit breakout set ups for both buy and sell trades to be taken.
So the price for sell stop below the range support 1.1300 or 1.1293 are good levels to consider loading the sell orders, for myself I prefer taking the earlier sell breakouts and see if the price can cracks below 1.1293 level if it does, this will present a very good risk-reward of 30 pips for 40 for TP 1 and probably another 100 pips for TP2 !
So are you in with me breakout traders??
Comment:
1.1280 Low
Comment:
TP2. blackswan
