CHFJPY: BEARISH Market Analysis! Waiting for CONTINUATION
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CHFJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
Market on top of its previous swing high, in higher time frame it double bottomed on it moving inside a rising wedge formation, in this context usually a reversal scenario.
In lower time frame, in October the market left the wedge, still correcting above the swing for a while and recently we could see the expected reversal sharp impulse breaking the main structure.
When, where and why would we step into the market?
Overall, considering the downward impulse, our Bias is quite bearish and we would be looking only for short positions.
The market dropped for more the 500 pip, and started correcting just few session ago.
A deeper correction is needed and once it will be completed, we will be looking for a great entry price and RR if the opportunity will be confirmed.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
Market on top of its previous swing high, in higher time frame it double bottomed on it moving inside a rising wedge formation, in this context usually a reversal scenario.
In lower time frame, in October the market left the wedge, still correcting above the swing for a while and recently we could see the expected reversal sharp impulse breaking the main structure.
When, where and why would we step into the market?
Overall, considering the downward impulse, our Bias is quite bearish and we would be looking only for short positions.
The market dropped for more the 500 pip, and started correcting just few session ago.
A deeper correction is needed and once it will be completed, we will be looking for a great entry price and RR if the opportunity will be confirmed.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
