Selling opportunity on USDCHF if we observe price confirming a downward breakout of the chart pattern with a strong candle. Our profit target will be set at the last low before the formation of the mentioned pattern. As for the Stop Loss, we will place it above the fast-moving average acting as resistance. (🇮🇳)
Your approach of setting the profit target at the last low before the pattern's formation is a prudent strategy, as it aligns with historical price behavior and provides a clear point of reference for potential price reversals. Additionally, the decision to place the Stop Loss above the fast-moving average acting as resistance is a sound risk management technique that helps mitigate potential losses in case the trade doesn't go as anticipated.
JRiquelmeTrading
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@Kapil-Mittal, Thanks for the appreciations. Best regards!