CHFJPY Long Trade 12 May 2021 +2.5R Profit

TRADE REASONS:

CHFJPY chart analysis showed the following when the trade was considered on 12 May 2021.

Daily chart: 10-day MA was angling up.

4-hr chart: Tested support zone with slow stochastic %K oversold.

See CHFJPY Daily and 4-hr charts below.

CHFJPY Daily and 4-hr charts

ENTRY:

Entered long at 120.15 on 12 May 2021 20.05hr when CHFJPY was at support zone and stochastic %K oversold. Stop was placed at 119.85 based on 30 pips 1xATR. Take profit was placed at 120.90 at the opposing resistance zone.

EXIT:

Take profit order was hit at 120.901 on 13 May 2021 15.32hr. 

TRADE RESULT:

Made + 75.1 pips against a -30 pips initial risk for a 2.5R profit.

Disclaimer: 

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.