After seeing price lose momentum after its pullback, I am looking for an entry to go long on GBPCHF
. Price is trading near a bullish trend line
along with major daily support coming in at 1.3950. I will be waiting for price action to setup an entry near support which is also last week's low. Use lower time frame confluence to enter position. Stops will go below last week's low, or even as conservative as below the 38.2 fib, leaving a 3:1 profit ratio.