CHFJPYđšđđŻđ” ( simple analysis for begginers ) đšđœâđ«
Hello Traders đđŸââïž
Hope you had an amazing trading week just like we did !đ€
Here we go, shorting JPY once again.đđŸ
The pair has been loosing strenght, suggesting more upwards values on this pair.
So quite simple analysis, using only pattern recognition.
The pair created a bullish flag pattern, with a successful break-through to the upside.
After 3 weeks raging, the pair managed to break the resistence of that channel, looking for new highs.
After confirm a new high, on the last trading day from last week, we spotted a re-test on what I consider to be the new support, closing the daily candle above our previous high values ( the top of the flag pole, and all highs on our raging channel ).
With only 50 PIPs of STOP LOSS and 150 PIPs of TAKE PROFIT, we have here a nice 1:3 ratio.
Usually I always ask to close the trades earlier, but this one will deffo be a TP hit
Feel free to use this trade yourself. đ€
If you found this idea helpful, please leave us your fedback on the comments below and don't forget to follow us so you don't miss any of our ideas. đđŸââïžđ
Have an awesome trading week chaps đŸđ„
Hope you had an amazing trading week just like we did !đ€
Here we go, shorting JPY once again.đđŸ
The pair has been loosing strenght, suggesting more upwards values on this pair.
So quite simple analysis, using only pattern recognition.
The pair created a bullish flag pattern, with a successful break-through to the upside.
After 3 weeks raging, the pair managed to break the resistence of that channel, looking for new highs.
After confirm a new high, on the last trading day from last week, we spotted a re-test on what I consider to be the new support, closing the daily candle above our previous high values ( the top of the flag pole, and all highs on our raging channel ).
With only 50 PIPs of STOP LOSS and 150 PIPs of TAKE PROFIT, we have here a nice 1:3 ratio.
Usually I always ask to close the trades earlier, but this one will deffo be a TP hit
Feel free to use this trade yourself. đ€
If you found this idea helpful, please leave us your fedback on the comments below and don't forget to follow us so you don't miss any of our ideas. đđŸââïžđ
Have an awesome trading week chaps đŸđ„
