CHF has been gaining strength over the past day or so as i've been trading against it. If anyone can let me know why that is, then that would be appreciated, lol. Anyway, CJ has entered the zone where price last visited at the end of May, and this opportunity is the last one i'm going to take with this pair for this week. I'm looking to short with a SL of about 10-20 pips depending on my entry (will probably have a couple positions on). Trendline drawn from the daily/4H and we'll probably see CJ drop once that trend is broken. Until then, we may see price bounce up from it for a bit but my bias is long-term bearish. I'll be targeting up to 150 pips, updates to follow.
Trade active
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So i ended up entering at 122.313 which was a bit premature, but i placed a sell order higher up in the pink zone. Price actually dropped before the order could be activated but i'll be looking for more opportunities to enter another position, perhaps when it retraces, due to the fact that this is a long-term trade