TradingView
KianHamer
Feb 1, 2020 7:42 PM

CHFJPY Short

CHF/JPYOANDA

Description

CONFLUENCES
double trend line touch
failed to break the resistance zone
rejected of 38.2 Fibonacci level signifying a pullback

EXPECTATIONS
Move to the downside returning to the 0 fib level and Exponential Moving Average
Possible break out of TL moving further down to the -27 fib extension level signifying the continuation of a downtrend
Could even see a move towards final fib extension level

Looks like the perfect short position
Comments
Bazza6868
Its a bullish trend could see pullbacks to trend line but its heavy uptrend
KianHamer
@Bazza6868 so there’s never been a trend reversal before?
Bazza6868
@KianHamer, JPY showing weakness due to corona virus in china but it could be possible
KianHamer
@Bazza6868 I’m predicting this pullback will have enough momentum to reverse the trend
KianHamer
@Bazza6868 good idea tbf never thought about fundamentals, I’m a 15 year old learning trader so just learning atm
Bazza6868
@KianHamer, been in the game for a while you can be correct bro check my analysis out drop me a message i will be happy to guide u drop me a follow 👍🏼
john-19
Hello, the trend will be bullish.
More