2018May18 CADCHF H4 Trend Reversal

CADCHF has been on an uptrend since March 5. The support of both the longer (steeper) and shorter (less steep) term diagonal uptrending channels have been broken with a red candle closing at 0.77605. As such, I am placing a sell limit order at that price. Stop loss is based on ATR x 2 while the take profit level has the same number of pips by default. I will manually cancel this pending order if price goes to TP1 prior to getting triggered.

Trade Setup: Trend Reversal
Price Entry 0.77605
SL 0.78105 | SL pips 50.0
TP1 0.77105 | TP1 pips 50.0
RRR1 1.0

Operación cerrada: precio stop alcanzado:

SL hit! (May 22)