NZD appears to be spiking today, and has pushed through some resistance. CHF was on it’s 3rd down day in a row, and was up against some support. If both pairs could break those levels, they had a good amount of room to run before the next major support/resistance level. On the hourly chart, this was in a very clear high base so I set an entry order.
Entry – 0.61875
Not long after setting my entry order, price pushed up and triggered me into the trade.
| Entry Order Level |
|---|
| 0.61875 |
| Stop Loss Level |
| 0.61325 |
| Target Level |
| 0.63 |
Exit – 0.6251
After triggering my entry, price pulled back a little over the next couple of days, but didn’t ever really get that close to my stop. Eventually, on Friday, price spiked again allowing me to move my stop to 1R and beyond before basing/pulling back enough to stop me out at a 63.5 pip gain!
