EURCHF has generally been in a channel since June. I am taking a long position because
1. Price is in an upward trend
2. A strong support line has been retested thrice since July.
3. RSI is a buy zone
4. Good Risk/Reward ratio
TP1 is at the 0.618 Fib Area. This area was a resistance zone in August and September.
TP2 is the main ceiling of the channel (1.096 price zone)
Your likes and comments are very much appreciated. :D
Trade with care. All the best, traders.
1. Price is in an upward trend
2. A strong support line has been retested thrice since July.
3. RSI is a buy zone
4. Good Risk/Reward ratio
TP1 is at the 0.618 Fib Area. This area was a resistance zone in August and September.
TP2 is the main ceiling of the channel (1.096 price zone)
Your likes and comments are very much appreciated. :D
Trade with care. All the best, traders.
Trade closed: stop reached:
Price is at the support zone.... looking at price action for re-entry