EUR/CHF Update (4)

I was stopped out at break even on this trade.    I don't like to stay in breakout trades for so long as I did in this one.....but, as I said previously, with the stop at break even...it's a free trade.

EUR/CHF Update (3)

In am still in this trade...with my stop at break even.

You can see that the trend line that was acting as resistance has now been violated which is not necessarily good for the outcome of this trade.

However, note also that the price reacted at the "D" point of a bearish Gartley pattern which is positive for the trade...and we are now back in the 1.2050 region....again!.

Of course, with my stop at break even, the emotional side of the trade is MUCH easier to deal with....so...once again, I apply my trade plan and await the completion of the trade, one way or another.

EURCHF Update (2)

It's Friday......7pm....I've looked at the price behaviour of this trade...and, as you can see, progress has been made.   There is a downtrend line which has acted as resistance 6 times and three bear flags.....so whilst I was considering closing the trade before the weekend, technically, there is no reason to do so.....I shall therefore leave it running and hope for further progress on Monday.   I have, however, moved my stop to break even.

EUR/CHF Update

I am still in my EURCHF trade.   The price action so far has been encouraging even though the breakout hasn't been spectacular.

The yellow area shows that the price reacted at my previously predicted "congestion" area.   The green circle is a classic action with this pattern...where the price retraces to the funnel level (sometimes it goes into the middle of the funnel or even to the top)....I refer to the green circle level as " a second chance entry" and sometimes I look for these as entry points instead of the initial breakout).

So.....technically speaking, there is no reason to take any action today.   However, as today is Friday,  I will monitor the trade and make a decision later today as to whether |I should leave it running over the weekend or close it before COB tonight.