Forex_Trader21

CHF/JPY long volume analysis

Long
OANDA:CHFJPY   Swiss Franc / Japanese Yen
seeing an opportunity to go long here. on a macro level we can see how the daily candle had a strong rejection/ high buying pressure off the lows of the year/ a strong weekly level. which gives me an indication of a buying opportunity. when we look at the micro-level on the 4hr/1hr we can see price is starting to stall around the 50-68.2% fibo area which lines up with a minor support area but strong supply level. as we pulled away had strong volume but on the retracement note the decreasing volume which tells us smart money has no interest to the downside. monitor the PA. price could reverse at this level if we can get a confo of it can go lower to create a double bottom. my money is it reversing at this level due to 1 hr strong rejection.\/ buying pressure coming in
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