Entering a 1:2 RR position on CHFJPY.
Price has been historically bullish creating newer higher highs since 2022. Recently a strong pull back has printed with price closing below a key zone around 198.500 although we can also see price price pull back up into that zone this past few weeks indicating a bullish continuation which is why I am entering a buy position.
There is also a newly formed ascending trendline that is being respected since price has slowly recovered.
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Disclaimer: The content shared is for educational and informational purposes only and does not constitute financial, investment, or trading advice. I am not a licensed financial advisor. Any actions you take based on this content are done at your own risk. Past performance is not indicative of future results.
Price has been historically bullish creating newer higher highs since 2022. Recently a strong pull back has printed with price closing below a key zone around 198.500 although we can also see price price pull back up into that zone this past few weeks indicating a bullish continuation which is why I am entering a buy position.
There is also a newly formed ascending trendline that is being respected since price has slowly recovered.
___
Disclaimer: The content shared is for educational and informational purposes only and does not constitute financial, investment, or trading advice. I am not a licensed financial advisor. Any actions you take based on this content are done at your own risk. Past performance is not indicative of future results.
Trade closed: stop reached
SL hit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.