I'd been looking for NZDCHF to bottom out and start to break up. It created some structure and had a small impulse up. It is still below the HTF trendline but I suspect this is a fakeout as I was expecting it to pop up any day now based on the previous wave pattern.
My indicator showed a rebound entry from the lows but I didn't catch the high-risk entry. Instead, I set an alarm on the trendline and took an entry here, after a small break and retest.
For this particular trade, I will manage it aggressively with a small SL and potentially close it early if I don't like the price action. But once it reaches the first resistance zone, I will set break-even and let it ride.
Let me know your thoughts.
Trade Safe! HEET
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TP1 just hit on my broker for 47 pips. If we see more CHF weakness, this could turn out to be a great trade.
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I took profits at 89 & 101 pips. Only a small amount remains in this trade.