EUR/CHF had a very bearish day yesterday. Yesterday’s daily candle engulfed day before yesterday’s candle. As a result, today’s intraday price action has been bearish. On the H1 chart, the price made a breakout at yesterday’s lowest low. Now the pair is trading below the breakout level. If the price goes back to the breakout level and it produces an H1 bearish reversal candle, selling the pair below today’s lowest low may get some green pips to the sellers.
Entry: Sell below 1.09700
Stop Loss: Above 1.09790
Take Profit 1: 1.09550
Take Profit 2: 1.09450
Take Profit 3: 1.09325
The price is to start having upward correction around the level where it is now. The price may hit Take Profit 1 in a hurry but may take some time to hit Take Profit 2 and Take Profit 3. Partial profit (50%) may be taken out at Take Profit 1.
Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.