LewisGlasgow

CHF/JPY - Three Drives

Long
FX:CHFJPY   Swiss Franc / Japanese Yen
Hello traders, this is an early prediction for CHF/JPY which I will update as the trade progresses. Today we have a potential bullish three drives pattern on the 4h chart with several trading opportunities, long and short!

Price has now completed the 2nd price drive at 1.44, but it could drop to a maximum of 1.618 therefor altering the entire pattern.

I'm going to trade this differently, rather than waiting for the entire pattern to complete I will be going short from the 0.618 or 0.786 retracement level.

To back up the price move we have a valid AB=CD within the three drives structure, with a similar amount of price bars although the time completion is slightly off for the C to D leg.


As always, trade safe everyone.
📈 Master the Art and Science of Trading: https://www.sixfigurecapital.com

📘 Download the Harmonic Mastery Ebook (Free): https://www.sixfigurecapital.com/harmonic-trading-ebook

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out