CHFJPY Bullish Butterfly Formation and Trade Idea
Pair / Instrument: CHFJPY
Time Frame: H4
The trend in the Timeframe: BEARISH
The trend in the Daily Chart: NEUTRAL
Description: CHFJPY is trading at 111.750 as of writing. 111.600 is the trendline support. If the pair break below 111.600, it will test 111.300 fractal and break below will lead the price 110.200. Pair will complete Bullish Butterfly at 110.120.
Trade Based On: Bullish Butterfly Harmonic Pattern
Entry: 110.200 – 110.100
Stop Loss: 109.700
Take Profit 1: 110.700
Take Profit 2: 111.100
Note: We will send the entry alert to the members.
You can follow the idea: CHFJPY TRADE IDEA
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
CHFJPY Bullish Butterfly:Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility