CHFJPY has formed Head and Shoulder Pattern on 4H chart and is about to make Lower Lows. Trade idea is also shown and confirmed by RSI indicator.
Above the shoulders we have strong resistance around 124.50-125.00 and Head and shoulders completed. We can expect movement forming the right neckline to strong support between 122.00-123.00.
Price has broke another horizontal structure
The formation has been confirm also by breakout of parallel channel.
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Above the shoulders we have strong resistance around 124.50-125.00 and Head and shoulders completed. We can expect movement forming the right neckline to strong support between 122.00-123.00.
Price has broke another horizontal structure
The formation has been confirm also by breakout of parallel channel.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.