2018Jun08 CHFJPY H4 Possible Bearish AB=CD

There is a possible bearish AB=CD for CHFJPY. Upon D completion at 112.706 (127.2 of BC) and confirmation of the bearish bias, I will go short. Stop loss is just above the 161.8 Fibonacci extension of leg BC. The take profit targets are set at the 38.2, 50.0, and 61.8 Fibonacci retracement levels of leg AD. Tentative details are as follows:

Trade Setup: Possible Bearish AB=CD
Price Entry 112.706
SL 113.762 | SL pips 105.6
TP1 111.102 | TP1 pips 160.4
TP2 110.607 | TP2 pips 209.9
TP3 110.112 | TP3 pips 259.4
RRR1 1.52 | RRR2 1.99 | RRR3 2.46

Order cancelled:

This setup is invalidated as D completion did not occur. (June 19)