CHF/JPY Long Trade: Riding the Symmetrical Triangle Breakout
Hi Traders ! I entered a long position on the CHF/JPY 15-minute chart, based on a potential bullish breakout from the symmetrical triangle formation. Here's my analysis:
1. Rising support and bullish pressure: The lower trendline shows higher lows, signaling accumulation and a likely breakout to the upside.
2. Moving Averages: The EMAs are tangled, but the 200 EMA (red) has consistently acted as dynamic support during consolidation.
3. RSI: The RSI is rebounding from the 50 level, indicating renewed buying momentum.
📈 Entry: Around 172.224.
🔴 Stop Loss: Set at 171.710, just below the triangle support.
🟢 Take Profit: Positioned at 172.674, using the triangle's height projected upwards as a target.
This trade offers a solid risk/reward ratio with strong technical backing. Now, I’ll monitor the volume and wait for a breakout confirmation to validate the move.
Does this align with your trading style, or would you tweak anything further? 🚀
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Trading involves significant risk, and you should carefully consider your financial situation before making any decisions. Past performance is not indicative of future results.
1. Rising support and bullish pressure: The lower trendline shows higher lows, signaling accumulation and a likely breakout to the upside.
2. Moving Averages: The EMAs are tangled, but the 200 EMA (red) has consistently acted as dynamic support during consolidation.
3. RSI: The RSI is rebounding from the 50 level, indicating renewed buying momentum.
📈 Entry: Around 172.224.
🔴 Stop Loss: Set at 171.710, just below the triangle support.
🟢 Take Profit: Positioned at 172.674, using the triangle's height projected upwards as a target.
This trade offers a solid risk/reward ratio with strong technical backing. Now, I’ll monitor the volume and wait for a breakout confirmation to validate the move.
Does this align with your trading style, or would you tweak anything further? 🚀
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Trading involves significant risk, and you should carefully consider your financial situation before making any decisions. Past performance is not indicative of future results.
Dagangan ditutup: sasaran tercapai
Close in 172.50 🤑
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
🔥Explore market opportunities with smart analysis. Learn more about Wordcoin!
world.org/join/OELWQPN
world.org/join/OELWQPN
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.