Tight Bearish Signal on CHFJPYWe have a tight Bearish Signal in ICMARKETS:CHFJPY
Unfortunately we have a very tight room for our TP still we will look after it and will MOVE THE SL TO BREAK EVEN AS SOON AS THE PRICE TOUCHES THE DAILY TRENDLINE
Price may get a fullback from the Daily Trendline which is a barrier to our first TP.
However, after breaking the daily trendline and hitting our first TP, our other trade will still aim for its target with very high reward and 0 risk.
I will place a sell stop order 185.76 with my SL at the Higher High at 186.28
I will take two positions both at the breakout Higher Low at 185.76. Both position has 2% risk in total with the stop loss at 186.28
IMPORTANT: Eye on daily trendline, if the price hit the trendline then move both SLs to Breakeven and trade at 0% risk, aiming for both the trades to hit TP1 and TP2.
Position 1 with 1 % Risk
Sell Stop: 185.76
Stop Loss: 186.28
TP: 185.24
Position 1 with 1 % Risk
Sell Stop: 185.76
Stop Loss: 185.2
TP: 184.35
