Possible .786 Retracement LONG On CHFJPY

As indicated by the horizontal blue lines, the market has broken above multiple areas of resistance. To make use of this I am applying the .786 retracement strategy. I am waiting for the market to retrace to this level, then placing a long order with targets at previous structure and the stop loss below previous support which gives me a decent risk/reward ratio. We will see how this trade plays out throughout the next week day or two. P.S. Maybe it isn't such a good idea to place orders during the election, but oh well ;)