Price has broken above the resistance line of a descending triangle with a convincing bull candle.
Price is also coming from a major support zone, will nothing but space an opportunity for it go back up to the resistance area.
Here is the play I will be taking on this trade:
PAIR = CAD/CHF
ORDER TYPE = BUY NOW
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.72170
STOP LOSS = 0.71903 - 40 PIPS / $4 LOSS
TAKE PROFIT = 0.73336 - 102 PIPS / $10 GAIN
Price is also coming from a major support zone, will nothing but space an opportunity for it go back up to the resistance area.
Here is the play I will be taking on this trade:
PAIR = CAD/CHF
ORDER TYPE = BUY NOW
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.72170
STOP LOSS = 0.71903 - 40 PIPS / $4 LOSS
TAKE PROFIT = 0.73336 - 102 PIPS / $10 GAIN