Technician
Long

(J) Trade 4 : GBPCHF Breaking Higher #forex

FX:GBPCHF   British Pound / Swiss Franc
Trade summary:
Buy 0.3 at 1.4440, closed at 1.4540. = $320.07
Buy 0.3 at 1.4420, closed at 1.4540 = $384.08
Buy 0.4 at 1.4440, closed at 1.4492 = $223.65
Rollover= 8.4+8.4+14.94
Total Profit= $959.54
Balance= 29,403.16 + 959.54 = 30,362.70
=======================================================================================
Update 6: Closed rest of position at 1.4492.
Update 5: Watching UK CPI number, If CPI (Y/Y) < 0.2 I will close the trade immediately at market price.
Update 4: First target reached. I am closing 0.6 of position, moving stop loss to break-even on the remaining 0.4. http://s14.postimg.org/c4gt7ovg1/gbpchf.....
Update 3: New pending long at 1.4420 was triggered. All position is active(1 lot). Stop loss at 1.4355.
Update 2: I am adding another 0.3 lots to this trade buy limit at 1.4420 , and that makes near 3% risk of balance.
Update 1: Trade is Active
=======================================================================================
Trade 4: Pending Long GBPCHF @ 1.4440
S.L @ 1.4355
T1 1.4540
T2 1.4670

Rule 6 doesn't apply to this trade. (If 90 percent of first target is reached without triggering entry I cancel the trade) So i wont cancel the trade if first target is reached without triggering entry.
But anyway keep posted for my updates

For 29,400 Balance, and 2% risk per trade=$588, Position size = 0.7 lot ( 0.4+0.3)

==================================================================

Reasoning
  • Breakout above horizontal resistance and 50-days Simple average
  • Falling wedge breakout
  • Pin bar at retest
  • New higher highs and higher lows structure was established
Wish me luck and best of luck for everyone.
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My best regards
Technician
Subscribe to my trading portal http://thefxchannel.com
closed this trade just now. had 1 position so i have 124 pips profit :D thanks technician!
Reply
Technician TimBrendsonFx
You're welcome buddy.. Thumbs up
+4 Reply
done already ^^ i've send you a pm by the way :D
Reply
Good trade Technician i beleive patient and discipline is the key and let your trade setups play out.
+1 Reply
Thank you Technician, I have learnt a lot from this trade and I like your style! I will continue to follow you on your journey!
+1 Reply
Trade summary:
Buy 0.3 at 1.4440, closed at 1.4540. = $320.07
Buy 0.3 at 1.4420, closed at 1.4540 = $384.08
Buy 0.4 at 1.4440, closed at 1.4492 = $223.65
Rollover= 8.4+8.4+14.94
Total Profit= $959.54
Balance= 29,403.16 + 959.54 = 30,362.70
+12 Reply
Update 5: Watching UK CPI number, If CPI (Y/Y) < 0.2 I will close the trade immediately at market price.
+3 Reply
Technician Technician
Update 6: Closed at 1.4492.
+3 Reply
finitemonk Technician
To add my thanks, very much for this trade: set my week off to a good start!
+1 Reply
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