CHFJPY🇨🇭🇯🇵 ( simple analysis for begginers ) 👨🏽🏫
Hello Traders 🙋🏾♂️
Hope you had an amazing trading week just like we did !🤑
Here we go, shorting JPY once again.👍🏾
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. 🤗
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. 🙇🏾♂️💙
Have an awesome trading week chaps 🍾🥂
Hope you had an amazing trading week just like we did !🤑
Here we go, shorting JPY once again.👍🏾
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. 🤗
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. 🙇🏾♂️💙
Have an awesome trading week chaps 🍾🥂
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