Mandeep.Singh
Short

Shorting opportunity on CHF/JPY

FX:CHFJPY   Swiss Franc/Japanese Yen
33 0 4
This pair has been in an uptrend for a while. Whilst I think this uptrend will continue, in the short term, I believe price has tested a key resistance line and has failed to break through forming lots of long upper wicks showing selling pressure. We also have a nice rising wedge pattern which once broken, should head to the downside towards previous structure low before heading back up. The rising wedge is forming higher highs slower than it's forming higher lows. Stochastic is showing divergence and overbought conditions.

On the 4 hour chart there is a nice long legged doji right on the trend line acting as resistance and 15 minute chart shows a lot of indecision around this same trend line .
Trade closed: stop reached: Ended up being a continuation wedge. -49 pip loss.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out