Today, for the London DayBreak Strategy, we will take a look at GBPCHF.
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Like we have with all the London DayBreak Strategy, we will enter only into position if the Bears take charge. So our approach has to be a sell stop order for this trade idea.
- Sell Stop order: 1.32225
- Stop Loss: 1.32485
- Take Profit: 1.32006
- Expiry: if this order is not triggered in 5 hours, let this trade expire.
Today, we will bend the rules a little. Because the range is rather tight, we feel that it can breakout strong either way. So just for this time, we will also enter into a Buy Stop Order.
- Buy Stop order: 1.32485
- Stop Loss: 1.32225
- Take Profit: 1.32683
- Expiry: if this order is not triggered in 5 hours, let this trade expire.
So with that Buy Stop order placed, here’s how our chart looks like.
Last note… sometimes in our haste to get the signals out, you can expect some mistakes/overlook. Please use common sense when entering the trade. Any questions or feedback… comment below. Have fun and good luck with this trade.
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