AkashGaur
Short

chfjpy sell setup with fib confluence

FX:CHFJPY   Swiss Franc/Japanese Yen
94 9 4
Hello traders, have a nice sell setup on chfjpy            
Price was on a previous reistance with a 0.50 fib retracement level, next move might be the the demand at the bottom which also has fib confluence and might just be the target for the broadening bottom
Cheers
Hey Akash, I am just starting to look at this one
snapshot
+1 Reply
1hr there is supply at 124.28
snapshot
+1 Reply
i never noticed that earlier but now that you mentioned that could also be a potential reversal zone but then again it appears that it also broke the trendline
Reply
AkashGaur PRO AkashGaur
however if you look on a daily there is no structure at that level at all, which makes me think that if there is a correct it might not be a big one
Reply
AkashGaur PRO AkashGaur
sorry on a second view there is some structure on a daily too. will have to keep that in mind
Reply
Price is still below trend in demand with three possible entries above
snapshot
+1 Reply
yes that could be a good sell setup to my understanding if it does reach one of those levels
Reply
I think you may be correct price may race to the bottom trend line, however if it does pull back into that supply it might be worth taking a short position in it there
Reply
i will have to look into a better entry myself since i missed the initial entry that was the resistance
lets see how this plays out
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out