Possible .786 Retracement LONG On CHFJPY

FX:CHFJPY   Swiss Franc / Japanese Yen
As indicated by the horizontal blue lines, the market has broken above multiple areas of resistance. To make use of this I am applying the . 786 retracement strategy. I am waiting for the market to retrace to this level, then placing a long order with targets at previous structure and the stop loss below previous support which gives me a decent risk/reward ratio. We will see how this trade plays out throughout the next week day or two. P.S. Maybe it isn't such a good idea to place orders during the election, but oh well ;)


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out