CHFJPY: Buy Opportunity

The price moves sideways based on the daily and the 1H timeframes. The price reached the support zone at 109.500, and we got a price reversal. The local downtrend line was broken, and it gives us a buy opportunity.

Entry Point: above 109.625
Stop Loss: below 109.420
Take Profit: at 110.00

Risk per trade must be no more than 1% of your capital. If the price drops below the stop level, we will have to search for new trade opportunities.

Kommentar:

Stopped was reached but at the same time the market conditions stay the same. I'm looking for buying based on a reversal signal from lower support level.

Kommentar:

The price broke the support and moved lower. We have the 2nd support at 109.34 level and it forms another price channel. I'm going to buy based on a reversal and add trade volume following the breakout.

All trades must be with stop orders. If the price drops below 109.00, we will have another market conditions and probably new sell opportunities.