GBPJPYLooking for buy on support setup after trendline breakout on H4 TF
Target profit: 140p
Target Loss: 49p
Note
CHFJPY not GBPJPY. Wrong pair tag.Postmortem 23/4/19
1 - Follow my strategy rules - Buy AFTER bullish BREAKOUT at 1st attempt - S1.
2 - CHFJPY was on a H4 sideway trend & the trading setup was in the middle of the sideway trend where price just recently tested the upper channel. Tendency price to test lower channel is possible
3 - Price at H4 is within red ichimoku cloud indicating price cold move lower.
4 - Price did react at that lvl up to the nearest H4 resistance = 15p before moving towards the lower sideway channel and breaking it indicating further bearish movement
Note
Never smaller as setup is in the middle of trend
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.