Evild0er
Long

Entering our projected long with confirmation

FX:GBPCHF   British Pound/Swiss Franc
GBPCHF            

Price has been in a W-uptrend quite some time now.
It recently respected W S&R and started a new daily uptrend (last couple of weeks). A few days ago we broke a triple tapped daily trendline .

The Trade:
Following our earlier projection, we now have a nice confirmation candle*, closing higher then the previous bear candle. This is an ideal spot to take the trade with a slight retracement. Our TP is projected at some very strong S&R, optionally u can opt 50% out at the pink line, which is less strong resistance. TP'ing higher probably isn't very profitable because a retrace from the blue line is most probable.

*Note that with confirmation, the move is just a lot more probable. It's never a 100% certainty. I'll follow up price action during my trade also, and evaluate if it supports or hints for resisting the move.

Update 28/04: Price is using 1.4923x line to come back down again. I'm looking for respects on previous S&R (the line at 1.4812x adjusted a bit to 1.4782x). Also I'm keeping an eye on our upwards trendline . Trade still looks valid, this week we'll know to run with smallish profit, or stay in and go for our TP.
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