CHFJPY is in consolidation last days with MACD 4C (thanks to @vkno422 for this awesome divergence detector tool) divergence in 4H. It means we aim for the end of the downtrend (at least in 4H chart).
We need to wait for a break of the top trendline before we get in a long position.
If we get an impulse to the bottom, ALL assumptions for long entry will get cancelled.
I will update the post if long break happens.
It is just my opinion, thank you!
Comments
Piet.Hein
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Nice setup :)
NTrading
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Yes it seems good and attractive to buy now, but we need to wait for a confirmation above trendline first.
Piet.Hein
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of course, confirmation is always the green light to go
dominionforex5050
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Hi
NTrading
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Impulse above just happened! Now we can wait for a correction and buy on breakout