GBPCHF 14 May 2021 Long Trade +1.0R Profit

TRADE REASONS:

Chart analysis showed the following when the trade was entered on 14 May 2021.

Daily chart: 10-day MA was angling up.
4hr chart: Role reversal S/R zone was tested after stochastic %K declined to <20.
The trade plan was to enter long at the S/R zone with stop 1x ATR away and take profit at the next opposing S/R zone.

GBPCHF Daily and 4hr charts

ENTRY:

Entered long at 1.2710 on 14 May 2021 15.12hr MYT at the S/R zone. Stop was placed 35 pips below entry based on 1x 14-bar ATR at 1.2675. Take profit was placed at 1.2805 at the next opposing S/R zone.

EXIT:

I raised my stop to 1.2745, i.e. +1R after GBPCHF moved up +70 pips, i.e. +2R.  It declined after that to hit my stop at 1.2745 on 18 May 2021 15.53 MYT. The trade yielded +1.0R profit.

Disclaimer: 

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.