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Pattern Breakout on CHF/JPY

October 26, 2009 by

I’d like to share my today’s early trade with you. Slightly more than a month ago I’ve written about a symmetrical triangle pattern on CHF/JPY W1 chart. Last week the price have closed above the upper limit of the triangle, which signals a bullish breakout from the pattern. I entered a long trend on CHF/JPY today and share the details with you:

CHF/JPY, Long Breakout from Symmetrical Triangle, Weekly, 2009-10-26

Parameters of the position:

Currency Pair: CHF/JPY
Direction: Long
Entry Price: 91.21
Stop-Loss: 87.74
Take-Profit: 96.44
Reward/Risk Ratio: ~1.5
Risk Amount: 1%

If you have any questions or comments regarding this CHF/JPY breakout position, please, feel free to reply via the form below.

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