Welcome to our newest feature; DecaPip. The concept is simple: our professional market technician, with an exceptional system, showcases his own daily Support and Resistance levels across a broad spectrum of FX currency pairs. The most effective way to use the levels are:
- If indicated levels hold, look for the price to reverse.
- If levels are broken, look for the price to continue past to new highs or lows.
The Littlefish FX DecaPip Daily: Intraday outlook highlighting Resistance and Support levels in the Forex market for 07/07/2015…
Today I am going to be showing you a great FX swing trade set up that I am currently watching on the CHFJPY currency pair this week.
For me this trade has many things working in its favor such as fundamentals, safe haven status and a great swing level entry and a very achievable exit target.
My 1st Entry level is 130.66 and my 2nd Entry if triggered is 130.88 with a 30 pip stop loss with a measured target of 12800.
130.66 Resistance 1
130.88 Resistance 2
129.40 Support 1
128.00 Support 2
This column is called DecaPip for a reason and 10 pips may be more than enough for most traders on this particular swing set up I am looking to trade.
Got any questions about our new DecaPip feature? Contact Nathan at Nathan@littlefishfx.com
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