CHFJPY in monthly time frame direction clear buying now but in daily time wait to break upper supply, After the breakout of Supply in Daily we can expect to buy from a valid Demand
Right Now this Currency Pair is in Neutral Phase
1- It is making Cup & Handle Chart Pattern on Daily Time Frame Indicating its Bullish Behavior
2-It is Moving in Parallel Channel Chart Pattern on Daily Time Frame and Right Now heading towards bottom of the channel indicating Bearish Behavior
3- When Considering Fibo Levels after breaking 38.2 % Fibo Level Price...
SL: 118.577
TP: 119.822
RRR: 2.11
Price is showing clear indication of respect to the 4hr and daily line of support, thus reflecting a potential rise in the market.
Hi Traders
CHF/JPY (Daily Timeframe)
A high probability, entry to go SHORT is forming @ 116.154 after the market found resistance @ 117.772. Only the upward break of 117.772 would cancel this bearish scenario.
Trade details:
Entry: 116.154
Stop loss: 117.772
Take profit 1: 115.199
Take profit 2: 113.581
Take profit 3: 110.944
Score: 6
Strategy: Bearish Trend Reversal
