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arieg1985

Possible Long Position for USD/CHF_Trade Plan 2017.06.18

Long
U.S. Dollar / Swiss Franc (OANDA:USDCHF)  
arieg1985  
OANDA:USDCHF   U.S. Dollar / Swiss Franc
USDCHF LONG tradeplan daytrade
6
2
usdchf long tradeplan daytrade
snapshot

D1 and H4 are both showing the overall trend is still down.
In H1, price is moving up above MA200 and hold above previous resistance area turns to support 0.97197-0.97283. Currently, price is forming Bullish Flag Pattern.
If price pull back to this area and rejected up (even better if breaks up flag pattern), can consider to long the market to follow the current momentum to the upside.
However, since the majority of trend is still down, trade this long position with limited target.
With Stop Loss 20 pips and Target Profit 50 pips, the potential trade offers 2.50 Reward-To-Risk Ratio.
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