#CHFJPY SHORT TERM SELL OPPORTUNITY

In Daily time frame price is bullish without any doubt but price has reached Daily bullish channel upper boundary and we can also see standard bearish divergence in Daily time frame which gives us more confluence.

As a result of this daily bearish confirmations we saw a bearish move which you can see it in 1H time frame and as a result of this bearish move price structure has shifted to bearish in this time frame.

since then price formed a bullish corrective move which shows us no intention to upside move and for more confluence price formed a shooting star candle stick in 4H time frame and also 1H bearish engulfing candle.

For trading this pair if price failed to create HH in 1H time frame you can then execute your sell position.

Remember this trade opportunity is counter trend trading in Higher time frame and should be manage with extra care.

Comment:

Forgot to say that our first target would be around 124.400 which is our previous Low and since we are overall in bullish trend it is better to cover your sell and if price managed to come below that area you can look for other trading opportunity.

stop loss would be above 125.045