CHFJPY - Bearish Shark short just above Oct high

FX:CHFJPY   Swiss Franc / Japanese Yen
Hey guys, just an update on CHFJPY             .

I am watching this bearish shark short just above Oct high around 106.70- 107.80.

This is not the best kind of setup as I could not draw any ED channel on it.

However, I am predicting a false breakout on this pair where I can short with confidence.

These are the criterias I will monitor before entry

1. RSI divergence
2. Candlestick reversal at PRZ

Good trading guys, do not short too early.

Will keep you guys updated!
Trade active: Got in at 106.70 yesterday. Currently running at +70 pips. Holding on to 104.60.
Comment: Check out my gameplan for week 44 here

Trade closed: stop reached: Hit SL - 70 pips.

Classic case of trying to be too greedy before a big news event.

From 100 pips profit to 70 pips loss, I learnt my lesson for November.

Reminder to self, always take some profits at the 38.2 retracement of the C-D leg.
is trade still active ?
Yup, I am still in. If you are worried about the election, you can choose to close off and take a small loss.

My sl is at 107.40, keeping it there till I either hit SL or TP.
GoldHunter TerryHarmonicTrading
I am keeping position too
Little Master Terry " one day will be Scott" please guide us the cause of failures of harmonic patterns? suddenly increase volume? or something else?
Any trading strategy will have failures.

Keys to success.

1. Overall winning %
2. Average risk to reward ratio
3. Risk management. Keep to to less than 2% max loss per trade.

Instead of hoping it does not happen, embrace it and keep on going.
thanks !!! actualy 100Pips in profit :D thanks man ! ... BTW CHF/SGD swing short ?? thanks :)
Congrats. Will check Chfsgd out.
Hey Terry , thanks for sharing , enjoying your posts . That's my view of the pair . A Bearish Cypher
Hey Chris, thanks for the compliments. I work with Scott Carney quite closely. Cypher is not created by him and it lacks alot of elements that makes it a reliable setup. Highly suggest you trade more sharks instead, better R:R and higher success rate.
RuhailKhan TerryHarmonicTrading
Sir Scott says Cypher is not a harmonic pattern. anyway Master Terry can explain well.
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