Hey guys, the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the condition for a 2618 trade. With stops above the highs, first target at the lows, second target to be determined.
If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
so the firs target reached... well done .. what is the second ?
Roker1
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@Xgeorgicek, unfortunately price didn't trigger my orders so i'm not in this trade,however i would have considered 112,50 as a good level for my second position
Xgeorgicek
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@Roker1, Hi I triggered my entry so I was in at 0.618 and than today again at fab 0.618 at the second retracement , thank you very much for an Idea .. I owe you one :)
Roker1
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@Xgeorgicek, very glad to hear that! Enjoy your profit!