Intraday: Short CHF/JPY as it approaches supply zone
Reasons:
1.Supply zone; price action will tend to have reactions here - blue horizontal line
2. Level coincides with open drive strategy
3. Prior support broken - support now had became a resistance
4. Strong rejection pinbar candle before start of downtrend - shows sellers had taken control at that level and will likely to defend it again
Trade Setup:
20 pips TP, SL from EP
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1.Supply zone; price action will tend to have reactions here - blue horizontal line
2. Level coincides with open drive strategy
3. Prior support broken - support now had became a resistance
4. Strong rejection pinbar candle before start of downtrend - shows sellers had taken control at that level and will likely to defend it again
Trade Setup:
20 pips TP, SL from EP
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade closed: target reached
Intraday 20 Pips in the bag!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.