CHFJPY long trade on 19/9/22 based on anticipate trade.
Pre-Analysis:-
- CHF currency was the strongest currency, while JPY was the weakest currency across the board. CHFJPY now enter a pullback mode, and first attempt to make a new high was failed. Now it enter a better price to buy and try to make a new high. Price also seem to be on a money spot area. Divergence also strengthening this kind of trade. I classified this trade as B trade.
Entry:-
- Entry during London session, time of entry 6:03pm
- Risk 0.5% of account balance
- Target, will let profits run if any, will see how price performed when hit previous high.
Post Analysis:-
- I scratch this trade, as progress was very slow.
- Thinking of this might not be ready yet.
- Here is chart where price might hit my stop, thus scratching this trade seem a good decision.
- Will monitor this pair next day 20/9/22 if any opportunity for entry.