See daily chart of EURCHF below for the discussion that follows.
EURCHF recently broke a support area which was reclaimed this past Friday via a strong bullish candle (think bullish engulfing). Going long here will be against the recent trend. For this reason I will enter if price pulls back slightly in order to get a better risk to reward. Also, I normally give these counter trend trades a very short leash.
Remember to always have your own trading plan in place and never follow other people blindly. Always know where you will be proven wrong on any given trade and have stops in place. Honor those stops and never ever bet the farm.
On Ideas: Don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Thanks and Regards,
Trading SOS SOS