Thursday, 19 May 2011

CHF/JPY Analysis

My order from yesterday missed by a couple of pips. However i still a bullish potential in this pair, based on yesterday analysis

On the 4hr timeframe, the upwards channel has broken off sideways but we have a nice inside bar and we have some nice support now at the 92.52 area which we've bounced off 3 times

Price Action is the pin bar so i'm placing a long order on break of the mother candle at 92.84. Stop would be the low of the mother candle plus extra for spread

ENTRY: 92.84
STOP: 92.37
LIMIT: 94.25

RISK/REWARD:3/1

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1 comment:

  1. Tee Man23 May 2011 at 21:53

    Was stopped out of this trade on friday. If sticking with my original trade decision the day earlier, i would still be in this trade

    ReplyDelete

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