In the H4 timeframe, CHF/JPY broke below the support level at 115.00 with an impulsive down move, signaled a sign of weakness. Should there be a pullback in CHF/JPY, this could present a potential pullback trading setup. However traders must be aware to wait for the confirmation and judge other details before entering the pullback to avoid early entry or invalid setup. Here is one thing that traders should do when trading the pullback. Watch the video below (timestamp starts 4:35) to find out how:
Below are the key parameters for CHF/JPY potential short setup for trading session on 27 Oct 2020. Pay attention to the one thing you should do in the video to increase your winning rate.
Entry: short limit order at 114.85.
Stop loss: 115.15.
Take profit: 114.20.