CHFJPY - Easy 1000pip Trade.. Atleast!
Our last CHFJPY over extended a little but it was still valid. Price dropped 1300pips from the break of our entry trendline!
We have now created a correction and looking for another 1000pip drop. There's a chance we may make a complex correction, as indicated on the chart. There is still a 1000pip drop to our first target so this one is definitely one to watch!
Trade Idea:
- Watch for reversal within the fibs
- Entry on break of trendline or you can use lower timeframe BOS or other methods
- once entered, put stops above price
- Target the recent lows as first target (165.5 (1000pips)
- Make sure to taper some positions there and watch to see if we get the complex correction or if we continue dropping.
What do you guys think?
Goodluck and as always, trade safe!
We have now created a correction and looking for another 1000pip drop. There's a chance we may make a complex correction, as indicated on the chart. There is still a 1000pip drop to our first target so this one is definitely one to watch!
Trade Idea:
- Watch for reversal within the fibs
- Entry on break of trendline or you can use lower timeframe BOS or other methods
- once entered, put stops above price
- Target the recent lows as first target (165.5 (1000pips)
- Make sure to taper some positions there and watch to see if we get the complex correction or if we continue dropping.
What do you guys think?
Goodluck and as always, trade safe!
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Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
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