Welcome to this analysis guys on todays bank holiday.
We are looking at the CHFJPY on the 1h time frame. There was a clearly bearish trend line, which was broken to the upside and got retested.
The retest happened with a pin bar or a so called wick. A good indicator about a trend change.
My favorite divergence is also in place.
It is still possible to enter the trade but you got a less good risk to reward! Keep that in mind.
Wishing you guys good trades and hear you next time!
We are looking at the CHFJPY on the 1h time frame. There was a clearly bearish trend line, which was broken to the upside and got retested.
The retest happened with a pin bar or a so called wick. A good indicator about a trend change.
My favorite divergence is also in place.
It is still possible to enter the trade but you got a less good risk to reward! Keep that in mind.
Wishing you guys good trades and hear you next time!
Trade active:
Price did touch the bottom another time. Holding the trade and expecting a rise of CHFJPY during next week.
Trade closed: stop reached:
Price did break the low.