This is a follow up to the CHFJPY analysis which we TP 300 pips 2 weeks back. (See related trade ideas)
After hitting the first TP of the big daily bat, CHFJPY continued to fall, but I have fully closed my trades locking in 300 pips.
The 2nd TP of the bat is at 112.20, which has yet to be reached.
Usually, we see smaller patterns form within bigger patterns.
In this case of CHFJPY, I see a hourly shark completing around 113.60.
I have shorted it after the red candle close after testing this zone twice.
If we are lucky, we can see it falling to 112.20 which is my final TP.
PRZ 113.60
SL 113.80
TP1 112.90 (using CD 88.6 instead of 50 as my tp because this is a trend aligning setup with daily)
TP2 112.20 (Big Bat 61.8)
Do not risk more than 2% of your capital on any trades, wish you guys a great end to this week!
After hitting the first TP of the big daily bat, CHFJPY continued to fall, but I have fully closed my trades locking in 300 pips.
The 2nd TP of the bat is at 112.20, which has yet to be reached.
Usually, we see smaller patterns form within bigger patterns.
In this case of CHFJPY, I see a hourly shark completing around 113.60.
I have shorted it after the red candle close after testing this zone twice.
If we are lucky, we can see it falling to 112.20 which is my final TP.
PRZ 113.60
SL 113.80
TP1 112.90 (using CD 88.6 instead of 50 as my tp because this is a trend aligning setup with daily)
TP2 112.20 (Big Bat 61.8)
Do not risk more than 2% of your capital on any trades, wish you guys a great end to this week!
