CHFJPY 1H Long Position Ascending Channel Support Bounce
Stochastic is oversold and is showing bearish divergence. Price action closed below ascending channel support, but I predict that it will reverse and bounce back up, especially given GOLD's strength at the moment because of risk-aversion vibes.
Stop loss is 113.00 and first profit target is 114.50 for a 1:1 trade.
I unfortunately entered this trade yesterday afternoon at 113.70 with my stop at 113.00 so I'm in the middle of a drawdown at the moment.
Stop loss is 113.00 and first profit target is 114.50 for a 1:1 trade.
I unfortunately entered this trade yesterday afternoon at 113.70 with my stop at 113.00 so I'm in the middle of a drawdown at the moment.