| Bulletproof Traders in-house trading activities presents our recent trade execution on the CHF/JPY. Targeting the short to medium term cycle, we believe the pair is heading north, towards the previous highs around the levels of 114.30
Initialy, we pulled the trigger the first time early last week when price was just crossing back above 111.06. That was our trigger to jump in. When price hit our secondary target and test level at 112.32 we took some profit off the table by closing out 50% of the trade.
Today, we are closing the rest of the position, but only for a day or two. We believe that once this local technical correction is over, price will resume the original up side move and we will try to time that re-entry as best as possible.
* Bulletproof Traders is a members-only Forex trading club. Run by an elite team of traders and market analysts, using science based approach to master the art of trading.
www.BulletproofTraders.com |
