Confluences: 1. Daily chart double bottom 2. Daily chart trendline breakout 3. Price trending bullish on daily chart as price created a new high.
Entry: Middle of the week would be the ideal time to enter this trade after the breakout and correction takes place. We will be looking to enter on the continuation to the upside. This is a nice short term trade with a duration 4-5 days holding period
Comment
⋅
Trade cancelled, we might have an sell off on our hands.
Comment
⋅
The sentiment changed from risk-on to risk-off, we might see chfjpy sell off to the level of 116.500. This is due to covid19 cases on the rise in Europe, which will impact the demand for oil.