So here is the plan:
- Buy stop @1.4000
- Take profit @1.4200
After trade is active, I will post a stop loss level.
There is a gravestone doji candlestick on the 2hr frame chart with very long tail. This shows buyers at support level. Also the price is trading above the downtrend line so it looks like a break out. I'm going to open 1 contract long GBPCHF at market price 1.3930 with stop loss @1.3870. Take profit @1.4200.
If price reaches 1.4000 I will add more long positions as planned.