The next week I'll be focusing on EURCHF and EURJPY. Both pairs are shoving similar properties (up trend channel + nearby resistance level).
One of my first trade ideas ever published:
Here is the EURCHF 4-hour chart. It's showing the uptrend channel and also key resistance level (blue) and descending trendline from the daily chart. The trade idea is to BUY if it breaches the resistance AND the trendline or to SELL if it breaches the bottom of the channel (closes outside it). Alternative BUY signal would be, if the price bounces off the bottom of the channel.
T/P 100pips, S/L in all cases should be around 40-45pips but not more than 1-2% of the equity. If you can't afford such S/L, do not trade. Also some S/L moving technique should be applied or at least 35pips trailing stop.
