Swiss Franc / Japanese Yen

Short

CHFJPY - Bearish Engulfing

By justinholtgrave

Updated

CHFJPY has formed a significant bearish engulfing on the weekly timeframe. Strong Bollinger Band outbreak also confirms this setup. SL set above previous highs, TP at the strong support level as marked.

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idea still valid. Price pulled back. RSI divergence

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Currently +297 pips in profit

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Dropping very quickly.

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I will continue to hold as there is a significant bearish engulfing candlestick on the weekly https://timhttps://www.tradingview.com/x/xSXb0v8q/eframe.

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Still holding my short position. Head & Shoulders pattern is forming on the daily time frame.

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justinholtgrave

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