Swiss Franc/Japanese YenFXCM
Description
⋅ Wait for a break and retest of level 119.500 to go short with good bearish confirmation on H1.
Reasoning:
- Price has made a large bullish move causing imbalance of S&D. Therefore, price is expected to fill in the imbalance.
- Price has also rejected trendline and resistance(Blue Line)
- Overall trend is still bearish
- If trend were to turn bullish, it would have to retest one of the projected take profits (Worst case would be a test of level 119.500)