. There is still a possibility of temporary retracement to suggested resistance line (114.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CHFJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The is at 36.
TP1= @ 113.85
TP2= @ 113.10
TP3= @ 112. 40
TP4= @ 111.80
TP5= @ 110.45
We opened 5 SELL trade(s) @ 114.07 based on 'Peak' at 14.07.2020:
Total Profit: 286 pip
Closed trade(s): 22 pip Profit
Open trade(s): 264 pip Profit
TP1 @ 113.85 touched at 07.15.2020 with 22 pip Profit.
Profit for one trade is 114.07(open price) - 113.41(current price) = 66 pip
4 trade(s) still open, therefore total profit for open trade(s) is 66 x 4 = 264 pip
SL: Break Above R2
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