A Second Chance to Buy in CHFJPY ...

May 7, 2018

New trading suggestion:
*The price is in an up trend and we forecast the uptrend would continue.
*There is still possibility of temporary retracement to suggested support line (0.9815), if so, traders can set orders based on Price Action and expect to reach short-term targets.

Midterm forecast:
While the price is above the support 0.9815, continuation of uptrend is expected.
We make sure when the resistance at 1.0132 breaks.
If the support at 0.9815 is broken, the short-term forecast -continuation of uptrend- will be invalid.
Price may also reach 0.9815, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies.
We will close our open trades, if the Midterm level 0.9815 is broken.

Technical analysis:
A trough is formed in daily chart at 0.9535 on 04/10/2018, so more gains to resistance(s) 1.0100, 1.0325, 1.0630 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 84.

Total Profit: 4748 pip
Closed trade(s): 2576 pip Profit
Open trade(s): 2172 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.9272 (day close price) based on 'Two Day Reversal Candle (Hammer)' at 2018.02.16 signaled by our "Daily Trading Opportunity"

Closed Profit:
TP1 @ 0.9355 touched at 2018.02.20 with 83 pip Profit.
TP2 @ 0.9440 touched at 2018.02.28 with 168 pip Profit.
TP3 @ 0.9520 touched at 2018.03.09 with 248 pip Profit.
TP4 @ 0.9660 touched at 2018.04.17 with 388 pip Profit.
TP5 @ 0.9735 touched at 2018.04.20 with 463 pip Profit.
TP6 @ 0.9815 touched at 2018.04.25 with 543 pip Profit.
TP7 @ 0.9955 touched at 2018.05.01 with 683 pip Profit.
83 + 168 + 248 + 388 + 463 + 543 + 683 = 2576 pip

Open Profit:
Profit for one trade is 0.9996(current price) - 0.9272(open price) = 724 pip
3 trade(s) still open, therefore total profit for open trade(s) is 724 x 3 = 2172 pip

Take Profits:
TP8= @ 1.0100
TP9= @ 1.0325
TP10= @ Free

May 8, 2018

Note

correction:
The title of this idea was mistakenly written. This idea is about USDCHF, not CHFJPY. We apologize for this mistake.