GBPCHF 75 pip scalp long 22nd OCT 2020

22 Okt 2020

Good afternoon everyone, hope you're all well. We have been smashing GBPCHF this week and we are looking for another trade to push into the next trading box. We have a 75 pip target, with a very tight stop loss of 15 pips. There is a lot of trapped volume and the fact that the previous weeks high hasn't been broken indicates there could be a nice push into the next level. The reason for the tight stop loss is because there was a double bottom for the traders that have taken it short. So if the price breaks that level where the stop loss is, it could drop lower into a lower trading box or consolidate. We will hold this trade for 12, 15 min candles and if we don't see any movement we will close the trade.