CHFJPY - SELL IDEA
Updated
Despite price has been pushing high since the last few days, the swing structure is bearish so I was looking for sells in this pair.
On the 1h timeframe price created some equal highs and swept that creating kind of a dodji candle followed by this strong bearish candle that gave me the entry.
There are so much liquidity to be taken on the downside, let's see how price will flow.
Strategy Check:
Bearish Structure
Price Flow
Area of interest - stacked area of daily + 4h imbalance
Liquidity Swept
Price Action
On the 1h timeframe price created some equal highs and swept that creating kind of a dodji candle followed by this strong bearish candle that gave me the entry.
There are so much liquidity to be taken on the downside, let's see how price will flow.
Strategy Check:
Bearish Structure
Price Flow
Area of interest - stacked area of daily + 4h imbalance
Liquidity Swept
Price Action
Note
Daily View
Trade closed: stop reached
The price was just bouncing off the break-even point, so after the formation of equal highs and the sweep, I moved my SL to that point, since if the price broke above it, there was no reason to keep my capital open.
Good risk management, I had a loss of 0.56% instead of 1%.
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