Hello traders.
I see CHFJPY has performed a retacement chasing the highs.
However, I see a losing steam of power for the pair and a daily trendline which is now broken.
Price may trap traders with upside momentum, which I believe will be limited.
Perhaps the price will try to test POC of Volume Profile and the Daily Demand Zone which is in confluence with 50% Fibonacci retracement level.
On the way dowb there, there are miscalleneous scenarios related to price action, how the price will react bounce back/breakdown and diffrenet price levels for
profit targets.
Good Luck!
I see CHFJPY has performed a retacement chasing the highs.
However, I see a losing steam of power for the pair and a daily trendline which is now broken.
Price may trap traders with upside momentum, which I believe will be limited.
Perhaps the price will try to test POC of Volume Profile and the Daily Demand Zone which is in confluence with 50% Fibonacci retracement level.
On the way dowb there, there are miscalleneous scenarios related to price action, how the price will react bounce back/breakdown and diffrenet price levels for
profit targets.
Good Luck!
Trade closed manually:
+430 pips