The CHF/JPY is in a strong uptrend. When a currency pair is trending in a strong uptrend on the larger time frames like the MN and W1 time frame you can have strong D1 cycles on any pair. This uptrend lasted 25 days on the D1 time frame, very impressive. This proves trend trading can work for any forex traders inlcuding people who have less computer time or a full time job. Drilling down the charts daily using multiple time frame analysis LINK is the key.
What is a trend goes here.
CHFJPY Trend Chart
During this 25 day upcycle the CHF/JPY moved up 900 pips. WHich is more then most forex traders make over months of trading !
Is the market always trending like this, no, sometimes the forex market is choppy or ranging up and down LINK But even in a ranging market if the ranges are wide enough the same principles apply.
And you cannot trade with the trends, when market starts trending the only way to know is by analyzing the charts daily.
D1 trend cycles usually last a few day , may times 5-6 days, but long D1 trend cycles are always posssible. Getting into the trend near the beginning of the cycle is important from the standpoint of reward to risk ratio. If you buy the CHF/JPY near the beginning of the D1 cycle or 10 days into the cycle the risk reward ratio changes alot. In this case reward to risk ratio LINK. So entering rend based trades near the beginning of the cycle is always recommended.
LO
Getting clean entries with heatmap