CHFJPY is stuck on a key weekly structure resistance.
the price got rejected and set a lower high on a daily. head and shoulder formation has formed on lower time frames.
currently, the last resort for buyers is the support line of a major rising parallel channel. now we see its breakout attempt.
to be involved in this selling movement, I would suggest waiting for a breakout of 116.3 - 116.5 horizontal neckline cluster. it will confirm a channel breakout and will increase the chances of a decline.
first goal - 115.5
in case of a new higher higher higher close on a daily, setup will be invalid
Hello Vasily
I see your signature setup
I also see a lower swing high on daily with significant divergence and confirmed swing high for an impulse move to down side
Well picked, nice work
I see your signature setup
I also see a lower swing high on daily with significant divergence and confirmed swing high for an impulse move to down side
Well picked, nice work