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.
London DayBreak Strategy GBPCHF – 1st March 2019
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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