glennmercer
Long

Long CHFJPY: Missed Pivots and Potential Harmonic Patterns

FX:CHFJPY   Swiss Franc/Japanese Yen
This is not my typical trade setup but I received a request to take a look at CHFJPY             and discovered a nice long opportunity in the process. Price action is showing respect for the .886AB level and has completed a potential C point in a series of harmonic pattern setups. With missed monthly and weekly pivots above price, I would not be surprised if price extends to the crab level which would open up a great short opportunity. To trade this conservatively, a stop is placed below C and observe price action for reversal signals at the bat completion level.

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