CHFJPY Price has crashed through 108.50 printing new lows since Feb 2019. Price is now hinting at a reversal, when I say reversal I am not interested in a long term swing trade trying to accumulate 1000's of pips, I want to take the safest position possible, get in and out of the market as quick as possible with a minimum 1:2 RRR....!

 Why? Why would you not want to keep banking 1:2 RRR positions and be in the market for minimal durations keeping your risk super low.

Price is certainly hinting at signs of a reversal since support was broken at 108.50 an exhaustion is now imminent. With the bottom of the descending channel now being tested and a potential inverted head and shoulders is now forming, the confluences are certainly stacking up for a long position. My preferred and best entry will be a MSB strategy execution entering the market at the lows of the right shoulder to follow this and to capitalise on further gains I will be also looking at a MSBC strategy entry.

This pair will remain on my witchiest along AUDJPY, Another favourite of mine this week which is fast approaching a very nice zone at 76.00

If you would like to see how these pairs develop this week and your not already a member of Team TGS, I welcome you to enjoy a 7 days free trial and enjoy over 50+ education tutorials, access my full watchlist and live trades.

Lets make profits together 

Written By Ryan Chandler

1 year ago (2019-05-09 16:29:06)