CHFJPY 4H LONG setup

Sep 2

CHFJPY has been consolidating for a long period of time and finally broke the resistance level recently, which possibly helped to form an upward Break of Structure(BOS) confirmation too, seen on 4H chart. Look at the Daily or Weekly chart, you can see that we are in clear uptrend, it is a good idea to follow the big trend. Now when the price pulls back to the 4H Order Block, we can BUY, this is a classic trend-following trade.

Entry: 172.060
Stop Loss: 171.471
Take Profit: 180.117
Risk Reward Ratio: 13.8