The price of USDCHF show bullish momentum
1) it broke down trend line , indicate reversal in momentum
2) the price broke resistance level and create bullish structure by making higher high and higher low
3) currently, price respect to the trend line. it bounces at the line to make higher high, so the trend is countinue.
so here is my trading plan
Using buy stop order when price break 0.9000 (current high)
The Stoploss level is 0.89150 (3 previous lows)
The Take profit level is 0.91650 (retracement 0.786 resistance)
The risk reward ratio is 2
I decide to risk 1% of my portfolio
The type of this trade is categorized as Reversal to retracement level.
1) it broke down trend line , indicate reversal in momentum
2) the price broke resistance level and create bullish structure by making higher high and higher low
3) currently, price respect to the trend line. it bounces at the line to make higher high, so the trend is countinue.
so here is my trading plan
Using buy stop order when price break 0.9000 (current high)
The Stoploss level is 0.89150 (3 previous lows)
The Take profit level is 0.91650 (retracement 0.786 resistance)
The risk reward ratio is 2
I decide to risk 1% of my portfolio
The type of this trade is categorized as Reversal to retracement level.