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Magnate7
Apr 17, 2023 1:15 AM

Swiss-Franc Retesting the Supply Area from 1979 Short

Swiss Franc/Japanese YenFXCM

Description


1. On September 2022, Price bounced back off the Supply Zone from 1979.This event was a significant reaction to this are because this Supply was Original & Fresh,
2.meaning Original Supply zone was formed out of nowhere or wasn't based on previous Supply or Support/resistance technical aspects. And Fresh Implies This price area has never been tested and its of importance because it took 43 years fro Swiss Franc to reach this price area.
3. Price headed to test this Supply area of 1520.000-159.000 again,


1.Based on Weekly Chart , Price might pierced up to the 151-150 price area.
2. sellers were already shown there interest to sell the market from the 150 price area.
3. Its reasonable to wait and find convictions to sell in Daily Chart.

Note: It may take 2-4 weeks or even 2-3 months to initiate the Bear Rally.
Comments
UnitedSignals
Noted, thank you!
ibrar550
prices seems alot more bullish than bearish and BoJ is also being very bearish
Magnate7
Lets Be Wise & Fierce
ibrar550
@Magnate7 more like wise and not trade it as a swll
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