The CHFJPY pair has been showcasing a significant breakout early this year, surpassing the crucial 170.500 level. After reaching a peak at 171.484, it retraced to 169.766, where it demonstrated a classic "base-rally-base" price action, underpinned by substantial volume, confirming its bullish momentum. As it now positions itself above the 170.500 mark once again, the bias is leaning towards a breakout beyond the previous high of 171.484. This movement suggests a robust potential for further bullish advancement, making it a focal point for traders eyeing substantial opportunities in the 
currency markets.
Trade active
reached my initial T/P level @ 171.211I set my Trailing Stop to Today's Open
Trade active
As the CHFJPY continues its journey above the significant 170.500 level, I remain steadfast in my bullish bias. The key to this conviction lies in the harmonious relationship between price action and volume – the fundamental elements of my trading strategy.Trade closed: stop reached
Closed position at the Today's Opening Price. Failed to Break above the 171.484
I still got 1% of the risk as profit for this set up.
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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.