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justinholtgrave

CHFJPY - In Trend Engulfing Long Setup 4H

Long
Swiss Franc / Japanese Yen (OANDA:CHFJPY)  
justinholtgrave Updated   
OANDA:CHFJPY   Swiss Franc / Japanese Yen
Support and Resistance Candlestick Analysis Fibonacci chf jpy CHFJPY EURJPY LONG buy retracement Engulfing Candle
2
0
supportandresistance candlestick fibonacci chf jpy chfjpy eurjpy long buy retracement engulfingcandle
CHFJPY has formed a perfect in trend engulfing long setup on the 4 hour time frame.
The engulfing candle formed December 23rd at 8am (closed at 12pm noon) engulfed 3-5 previous candles.
A perfect rejection and wick through 61.8% retracement level confirms this long setup.
Entry is at the 61.8% retracement level.
SL is set 2 pips below the engulfing candle low.
TP is set at 3X the risk.
Very similar setup to EURJPY which confirms JPY weakness.
Trade closed: target reached:

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