Usdchf bulls setting up

Usdchf breaking out of the trading range

This is an awesome trade setup that I have just noticed on usdchf. Here are a few thoughts I have on this current trade idea:

1. Breakout from the trade range (symmetrical triangle)

2. Previous high broken

3. Pullback and retest of resistance as support

4. Bullish engulfing bar completed

On this trade setup I have a risk to reward ratio of 1:3 and my stop is only 21 pips.

When I look on the daily time frame I can see that my 60 pip target can be provisional with an exceptional amount of up-side being possible.

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