Possible trade idea for CHF/JPY
When we look at the chart we can see that the price broke above some sort of resistance that we had in the past and is now trading right in that zone.
What we can do now is that we could go long now with our SL right below that level.
If I would trade this I would do it with little risk because it is not really ready to confirm that the price is going to move up from here because we are not yet out of the zone so this could also be a fakeout.
Entry: 166.775
SL: 166.380
TP: 168.546
What we can do now is that we could go long now with our SL right below that level.
If I would trade this I would do it with little risk because it is not really ready to confirm that the price is going to move up from here because we are not yet out of the zone so this could also be a fakeout.
Entry: 166.775
SL: 166.380
TP: 168.546
Trade active
Trade closed: stop reached