Long position EUR/CHF

FX:EURCHF   Euro / Swiss Franc
51 0 2
Reasons for buying this pair:

- We are in an uptrend on both the daily and 4 hour charts.
- Price has been gradually climbing, consolidating and climbing again.
- Price has been putting in higher highs and higher lows.
- Price has been testing but failing to break through the upward sloping trend line acting as resistance.
- The horizontal lines seem to be acting as resistance turning into support everytime higher highs/lows have been made.
- Price has closed on the 4 hour chart as a hammer with a long lower wick signalling buying pressure.
- Price has formed a bullish engulfing with a stochastic in oversold conditions as well as a crossover.
Trade closed: stop reached: Stop loss might have been too tight, price seems to have gone below previous support level.
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