Short with Structure on CHFJPY

FX:CHFJPY   Swiss Franc / Japanese Yen
Hi guys,

this is a simple trading setup. It all starts from higher timeframe, specifically daily, where we have a downtrend and a retest of the broken support that could now turn into resistance (yellow box). Given that, we all know that this is a key place to look for trading opportunities because it could yield great results with the help of the master trend. Therefore, i've gone down on lower timeframes and seeked for a nice setup. Here on the hourly chart, you can see there's a double top right at a Bat completion point, with RSI divergence. This is enough for me to enter the market short, with stops above the highs, and targets as shown.

If you have any idea/question, feel free to comment beneath.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached: First target hit!
Trade active: After being stopped at breakeven for my second position, i'm re-entering short (2618 strategy):
Trade closed: stop reached: Stopped out on my second trade
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano:
Ultimo video:

If you agree, like this chart! Thanks
My last (english) videoanalysis here:
great analysis, thanks!
+1 Reply
Roker1 Forsberg
@Forsberg, welcome!
Forsberg Roker1
@Roker1, are you planing for a reentry? i know its a few hours from candle close but as we speak a seemingly nice rejection of the 200sma on 4h is being formed. any thoughts or will you stand back for time being?
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out