CHFJPY - Demand Zone BUY
Updated
This idea is based on my understanding of order flow.
A significant rally allowed me to define a demand zone where open buy orders are left over (blue zone).
If the price moves down to our demand zone , we can expect a bounce back as there are still open buy orders in the zone that are now triggered.
I am looking for my target at the beginning of the compression zone. The green box markes the compression zone. In this zone, most of the sell order are eaten up. That means for us: No ressistance on the way to our target!
Infos about the Trade:
Entry: 107.915
SL: 107.859
TP: 108.299
Risk: 5.6 Pips
Reward TP: 38.4 Pips
Risk/Reward ratio: 6.86
Use proper money management!
I recoment to risk max 2% of your entire balance if it hits SL.
Happy trading!
I'll keep you up to date and give trade updates. Stay tuned!
A significant rally allowed me to define a demand zone where open buy orders are left over (blue zone).
If the price moves down to our demand zone , we can expect a bounce back as there are still open buy orders in the zone that are now triggered.
I am looking for my target at the beginning of the compression zone. The green box markes the compression zone. In this zone, most of the sell order are eaten up. That means for us: No ressistance on the way to our target!
Infos about the Trade:
Entry: 107.915
SL: 107.859
TP: 108.299
Risk: 5.6 Pips
Reward TP: 38.4 Pips
Risk/Reward ratio: 6.86
Use proper money management!
I recoment to risk max 2% of your entire balance if it hits SL.
Happy trading!
I'll keep you up to date and give trade updates. Stay tuned!
Order cancelled
I am deleting this pending orders, as my entry did not get filled.
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