This rectangle pattern on the W1 chart of GBP/CHF offers a breakout trading opportunity. The borders of the rectangle are marked with the yellow lines. My entry levels are where the cyan lines are. My potential take-profit levels are at the green lines. Stop-loss can be set to the low/high of the breakout candle (not shown on the chart).
Trade active
Long position opened today at 5:55 UTC. Open price = 1.22619, SL = 1.21033, TP = 1.27980.Note
TP hit today at 01:02 UTC.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.