CHFJPY

Jul 21

Another Yen pair... but it seems interesting, for an explanation and details of this trading idea, check my latest FX video analysis ( 22.7 - x ) Have a great week!

T

Jul 22

Note

After the price had been consolidating for so long, all of the pairs dropped against Yen a couple of days ago, leaving a big gap left unmitigated and a nice targets for a price to return. I am waiting for buyers to step into the market in order to bring the price higher, then around the gap/sell area they close some profits and trigger their sell positions, going with the market - closed buys equals to sells as there is fewer buyers in the market. But to go to the current time - price is in a grey box - some sort of a buy zone, I will give the price task to break the high first and then look for possible buys - as that is counter trend idea, risk will be minimized. On the other hand, sellers will increase their positions and break through the most recent low.