CHF/JPY Pair Setup Scalp (Price Action with S&R)
Post Weekly Trades ft CHF/JPY
-this week we seen price action for this pair along with a couple other jpy pairs move in accordance with one another.
-Big Breaks from support and resistance weren't happening as much as news came into the markets from BOJ mid week.
-Volume entered the New York session heavy this week. most moves were setup and executed here.
Chart anaylsis
-On hourly (1hr/4hr) im setting up for a nice move to support as price has been weakening and testing old lows.
-what im looking for here is price to show interest in holding support around 165.8, if i can get a few houlry candles to hold here and make a bullish candle i will take look into a buy back to the top of the range
- the main trade here is to allow the pair to hit support, then return to previous resistance. if the resistance holds i will take that sell back down for 50+ pips with a possible runner.
Feedback appreciated
Not a financial advisor, Trade at your own discretion & Manage your own risk
-this week we seen price action for this pair along with a couple other jpy pairs move in accordance with one another.
-Big Breaks from support and resistance weren't happening as much as news came into the markets from BOJ mid week.
-Volume entered the New York session heavy this week. most moves were setup and executed here.
Chart anaylsis
-On hourly (1hr/4hr) im setting up for a nice move to support as price has been weakening and testing old lows.
-what im looking for here is price to show interest in holding support around 165.8, if i can get a few houlry candles to hold here and make a bullish candle i will take look into a buy back to the top of the range
- the main trade here is to allow the pair to hit support, then return to previous resistance. if the resistance holds i will take that sell back down for 50+ pips with a possible runner.
Feedback appreciated
Not a financial advisor, Trade at your own discretion & Manage your own risk