Instaforex Daily Trade Idea - USD/CHF

In this trade, blue line means 20 MA (Moving Average) and white line represent 5 MA. If you don't know about moving average yet, please check it out, there are many free stuffs about moving average over the net. Now, why choose 5 and 20? It's because FOREX market open 5 days a week, so that's mean 20 days a month. Let's look at the picture below:

I assume you already know about bottom tail, top tail and trend line. In the above picture, A is the top tail and B is the bottom tail. The formation of moving average line pattern at C and D are somehow identical, so it tell us that this pair will go up if it manage to break the resistant line (aqua color).

Consider the situation above, here is my trade idea:

Take profit at 1.0120 --> 278pips
Buy at 0.9842
Stop loss at 0.9810 --> 57pips

P/s: Original stop loss are set to 57pips and moved to 32pips accordingly. Entry at 0.9842 are very risky due to unconfirmed trend reversal.