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Swiss Franc / Japanese Yen
Long
Updated

CHFJPY Outrageous LONG move

55
Firstly from first sight identified a triangle and plotted my points, added my support/resistance lines to view all rejections and breakthroughs (S1-S5 & R1-R5). I see 3 opportunities for LONG positions, the first right above the R3, if a breakthrough is successfully added my BUY STOP a few pips above the R3 to avoid false touches or breakthroughs, duplicated the logic onto the second opportunity above the R4 and lastly the same above R5. This is an extreme prediction and if successful will prove trends are still able to respect the support and resistance lines
Note
Reaching TP very soon, successful setup and prediction
Trade closed: target reached
Trade closed: stop reached
SL hit on the second trade, but the setup looked strong, need to adjust the SL properly in the future
Muzi_muz
Chart PatternsTrend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsTrend Analysis
Muzi_muz

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.