Trade Recommendation: GBPCHF

The price is going to reverse from the kumo and Tenkan line. DMI confirms trend market conditions and allows trading. We have a buy opportunity. Entry level for long trades can be above the high of the previous candle. If the market passes this level, we’ll get confirmation of price reversal and further upward movement. Stop orders must be placed below 1.26000 level. Profit targets should be at the previous local high 1.28400 and 1.30000 resistance levels. If the price drops below 1.26000 level without activation of pending orders for buy, we’ll have to delete these orders and wait for a new trading opportunity. Recommended risk size for this trade is up to 3% from your deposit. 

Buy: 1.27250
Stop: 1.25900
Profit Targets: 1.28400 and 1.2990

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

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