tom_mok
Long

CHFJPY Bat Pattern

FX:CHFJPY   Swiss Franc / Japanese Yen
Price complete Bat pattern inside the channel, complete ABCD and retesting lower channel.
price potentially bounce, SL on red line.
Dec 20
Trade closed: stop reached
Patternception

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Great idea on chfjpy, glad that we have the same bullish bias. Please take a look at our idea and let us know what you think!

Reply
Nice idea on CHFJPY and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 113.09 (100%, 61.8% Fibonacci extension , 50% Fibonacci retracement ). Stochastic is approaching its support at 4.6% where a corresponding bounce could occur. If a bounce does occur, we may look at the 113.74 resistance level (38.2% Fibonacci retracement), which is just above the mid way point of your 1st support and 1st resistance level. Please have a look at our idea and share with us what you think.

+1 Reply
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