CHFJPY is on very strong resistance now, price make a bigger move since 2012 and many tools show that need to fall from here
I use big stop loss to be ready for a sneak attack and keep the success rate high.
Last short at the small time frame that I up here at the GBPJPY out in the take profit (take profit1)
then he goes up and makes a new high, now The band resistance is very strong, Also USDJPY shows some down movement from the Daily Bollinger Band.
Yearley's candle will turn to red before he can turn again to blue.
So take profit 1 is to kill the price...
So GBPJPY after more than 600 pips up move with no fall of 60 pips.
Now he is at a strong Bollinger Band resistance and Fibonacci resistance.
At the small time frame you can see in the photo there are 2 patterns, the first break to the upside and get very nice support from the 2 trendlines that were touching each other on the same price, now because of the...
Bitcoin made a clear False Break on the ATH (all-time high)
I see this pattern many times in a small time frame, but this could also work quickly!
A fall to 26K means it will end AB=CD and will have major support there.
There is more 3 tools that support this short.
*All my ideas are ideas only and not financial advice.
And I do not bear responsibility...
This Instrument has a good chance to go to a new high, I cant add moving average or many other indicators since not enough data.
So I use Price Structure to find out the support and resistance and Fibonacci Extention levels.
Google on a very high price and 10 different indicators that I use tell me it will go down from here
I use big stop loss so I can hold a sneak attack and take that big down move to the take profit.
I also see how sooner than later we will hear the Fed reduce his support or some other news that will help this and all markets to make some big down movement...