Possible CHF/JPY Short Position !!

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY

Chart time frame - H4
Timeframe - 3-4 Days
Actions on -
A – Activating Event
Currency Pair creating a Double Top . Currency pair will move south to the @112.550 level.
B – Beliefs
Market will be rejected at @113.850 level and move towards the first Target 1 level @ 112.550 level.


CHFJPY

Trade Management
Entered @ Still waiting for confirmation. Will wait until the High Importance news report comes out for the CPI JPY
Stop Loss @ 114.150
Target 1 @112.550

Risk/Reward @ 3:1

Happy trading. Will let you know closer to the time if or when executed:)


Follow your Trading plan, remain disciplined and keep learning !!

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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!

Comment:

No effect from the CPI news report as of yet

Trade active:

Entered trade @ 113.62. Stop loss & Target no change

Comment:

Trailing stop position changed to entry level. Trade working out well and going as predicted :)
It all works out if you follow your trading plan!!!

Comment:

Trailing stop moved

Trade closed: stop reached