FX:CHFJPY   Swiss Franc / Japanese Yen
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2
Looking to get in at 113.206, this price is beneath the recent lows, I'm looking for it to clear these out and then move on down to around the 106.860 area. I wont be discouraged if it takes a little while to get to that point, however I strongly feel it will get to that area and fill in the previous inefficient price movement.

Optimal Entry - 113.206
Stop Loss - 114.532
Target Profit - 106.862

Risk/Reward = 5.5/1
Comment: Moved my stop loss to 114.750 in the hope that i can avoid being stopped out before it hopefully sells off.
Maybe ill still end up being stopped out, often the market likes to retest before turning around, which would be a good for the trade.
However with the highs being so clean at the top its possible that it will run out the stops in search of liquidity.
Trade closed: stop reached

Comments

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