CHFJPY buy set up -
Market approaching 4hr support and also 4hr trend line. Looking at a buy from support to resistance trend line. However there's not much confirmation or not many reversals on support trend line so the market does have potential to break. But the support could help it out and start building the trend line up. If market breaks then next zone is daily.
Market approaching 4hr support and also 4hr trend line. Looking at a buy from support to resistance trend line. However there's not much confirmation or not many reversals on support trend line so the market does have potential to break. But the support could help it out and start building the trend line up. If market breaks then next zone is daily.
Comment:
Market has melted beyond the support trend line as expected. Good opportunity to enter for a reversal from Daily zone
Trade active:
late update - Entry from 107.700 on 9th may. Downward momentum slow down and reached a new support zone around 107.610 and 107.700. A good sign of reversal was shown on the next two candles and entry was made, Placed a Buy stop at 107.700.
TP is at trend line.
TP is at trend line.
Trade closed: target reached