(J) Trade 4 : GBPCHF Breaking Higher #forex

12 juin 2015

Trade summary:
Buy 0.3 at 1.4440, closed at 1.4540. = $320.07
Buy 0.3 at 1.4420, closed at 1.4540 = $384.08
Buy 0.4 at 1.4440, closed at 1.4492 = $223.65
Rollover= 8.4+8.4+14.94
Total Profit= $959.54
Balance= 29,403.16 + 959.54 = 30,362.70
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Update 6: Closed rest of position at 1.4492.
Update 5: Watching UK CPI number, If CPI (Y/Y) < 0.2 I will close the trade immediately at market price.
Update 4: First target reached. I am closing 0.6 of position, moving stop loss to break-even on the remaining 0.4. s14.postimg.org/c4gt7ovg1/gbpchf.png.
Update 3: New pending long at 1.4420 was triggered. All position is active(1 lot). Stop loss at 1.4355.
Update 2: I am adding another 0.3 lots to this trade buy limit at 1.4420 , and that makes near 3% risk of balance.
Update 1: Trade is Active
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Trade 4: Pending Long GBPCHF @ 1.4440
S.L @ 1.4355
T1 1.4540
T2 1.4670

Rule 6 doesn't apply to this trade. (If 90 percent of first target is reached without triggering entry I cancel the trade) So i wont cancel the trade if first target is reached without triggering entry.
But anyway keep posted for my updates

For 29,400 Balance, and 2% risk per trade=$588, Position size = 0.7 lot ( 0.4+0.3)
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Reasoning

• Breakout above horizontal resistance and 50-days Simple average
  
• Falling wedge breakout
  
• Pin bar at retest
  
• New higher highs and higher lows structure was established
  

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Technician
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