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?
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