CHFJPY is currently consolidating within a symmetrical triangle pattern on the Daily time frame, indicating a potential rebound movement in the near future.
My trading plan is to buy if the price successfully rebounds at the lower boundary of the triangle or breaks out to the upside from the pattern, which could provide further confirmation for a bullish trend. The profit target for this setup is in the 180 to 185 area, which represents the next resistance level. A stop loss is placed below the lower boundary of the triangle to ensure proper risk management.
Disclaimer:
This analysis is part of trading plan and does not constitute trading advice. Always apply proper risk management in every trading decision.
Feel free to share your thoughts or request other analyses—just drop a comment!
My trading plan is to buy if the price successfully rebounds at the lower boundary of the triangle or breaks out to the upside from the pattern, which could provide further confirmation for a bullish trend. The profit target for this setup is in the 180 to 185 area, which represents the next resistance level. A stop loss is placed below the lower boundary of the triangle to ensure proper risk management.
Disclaimer:
This analysis is part of trading plan and does not constitute trading advice. Always apply proper risk management in every trading decision.
Feel free to share your thoughts or request other analyses—just drop a comment!
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