CHFJPY - Wait For The Bears ↘️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

on H4: Left Chart
As per my last analysis (attached on the chart), CHFJPY rejected our 158.5 support and traded higher.

Now CHFJPY is sitting around a strong supply zone so we will be looking for sell setups on lower timeframes.

on M30: Right Chart
CHFJPY is forming a potential double top pattern but it is not ready to go yet.

For the bears to take over, we need a momentum candle close below the gray neckline.

Meanwhile, until the sell is activated, CHFJPY would be overall bullish and can still trade higher.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich