CHFJPY LONG / A strong 5 to 1 reward over risk
This one looks like an easy one...
A nice trendline leading right to the 30% of the recent low to high Fibonacci retracement gives us a very strong reward over risk of almost 5 at TP1... and at TP2 its just.... wow! :)
Anyhow, the trade we are taking here is pretty simple, a 4H retracement setup where both TPs line up with supply/demand zomes and could work as a magnet to attract the buyers.
Nothing else to add, the fact that price has come here slowly (to the 30% of the fib) means we could have a strong push up soon!
Thats all folks, happy trading!
A nice trendline leading right to the 30% of the recent low to high Fibonacci retracement gives us a very strong reward over risk of almost 5 at TP1... and at TP2 its just.... wow! :)
Anyhow, the trade we are taking here is pretty simple, a 4H retracement setup where both TPs line up with supply/demand zomes and could work as a magnet to attract the buyers.
Nothing else to add, the fact that price has come here slowly (to the 30% of the fib) means we could have a strong push up soon!
Thats all folks, happy trading!