Chfjpylong
BRAVO SIX GOING LONGWait i'm going long for once? very good r/r. Trend lines were made on the daily time frame. 111.000 is a very strong support zone.
CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 110.666 where it could potentially react and bounce to its resistance at 1st resistance at 111.645.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
CHFJPY: LongIDENTIFY: Price is in the buyer's territory, not convinced by the attempt to break the HL that started the move to the recent HH.
PLAN: So looking at going long, because of the daily bias of the trend to the upside.
TRADE: Place Buy Stop order, anticipating buyers to step in again.
NB: Use risk management to determine the Stop Loss and Take Profit
CHFJPY long, bullish setup with 2 scenarios!Plan : resistance level or structure breakout --> wait for price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 112.128 where it could potentially react and bounce to its resistance at 1st resistance at 113.018.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.