Retracement and Fake out on 4H Timeframe CHFJPY
Hello traders, this is a simple trend following and Candlestick trading pattern on CHFJPY which works only on the 4H time frame. After a move up, we have a re-tracement and price returns to test a psychological resistance level which is the only resistance levels i use in my trading. Remember this strategy also works very well with diagonal trend lines, it also works in counter trend, but is best suited for trending pairs in the direction of the trend.
Make sure you respect risk reward criteria and always have a STOP LOSS on all you trades.
Make sure you respect risk reward criteria and always have a STOP LOSS on all you trades.
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