CHF/JPY

Weekly Chart


One to keep an Eye on for breakout
No position

This has now broken above resistance at 10555

This is not that far from the top of the range.
Im gonna go short at 10580 on the first attempt basis again with a 40 point stop.
If it goes through and bails me out i will be looking to go long on a back test.


dl.dropboxusercontent.com/u/4899609/chfjpy20thjune.png

This should be a free trade now If it approaches the bottom of the range now it would be too risky to go long as this trade was for a first attempt only.


dl.dropboxusercontent.com/u/4899609/chfjpy13thjune2.png

This trade went wrong for me last time due to the inside bar right near the resistance.. always added risk when trading near a resistance level.In this case the resistance held.
This time ive gone long from the support at the bottom of the range with a 40 point stop. Im keeping the tight stop due to the risk of breaking a support.
This currency pair is not for the faint hearted due to the fast moves associated with this pair.


dl.dropboxusercontent.com/u/4899609/chfjpy13thjune.png

Mark PB wrote: Hi Remo

When was the inside bar I can't see it on the chart ?

Hi mark
About 5 days back