Are we ready to explode on CHFJPY?
As you can guys this pair is talking alone.
After a double bottom on the daily time frame we definetly explode to the upside pushing up about 335 pips.
As we can see we have also broken a weekly descending trendline and now we have formed a Symmetrical Triangle in a consolidation zone.
After 4 weeks more or less where prices are compressing, are we finally ready to see a big move on this pair?
My idea is to wait price to come in the middle of our triangle and then taking a long position with a minimum risk of 25 pips. Lets see how this plays out.
Entry 109.73
SL 109.49
TP1 110.55
TP2 111.90
After a double bottom on the daily time frame we definetly explode to the upside pushing up about 335 pips.
As we can see we have also broken a weekly descending trendline and now we have formed a Symmetrical Triangle in a consolidation zone.
After 4 weeks more or less where prices are compressing, are we finally ready to see a big move on this pair?
My idea is to wait price to come in the middle of our triangle and then taking a long position with a minimum risk of 25 pips. Lets see how this plays out.
Entry 109.73
SL 109.49
TP1 110.55
TP2 111.90
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