CHFJPY, POSSIBLE SELL OPPORTUNITY COMING
Monthly:
Price is rejecting the weekly highs and the descending trendline.
Weekly:
It is forming a bearish W and price is already rejecting the 61.8% of the daily fib.
Daily:
Price could be forming a H&S pattern to confirm more downside momentum.
The 61.8% of the daily fib is also aligning with the possible right shoulder.
4H:
We should wait for deceleration on the zone of interest or a change in structure from bullish to bearish after price reaches the zone of interest.
Price is rejecting the weekly highs and the descending trendline.
Weekly:
It is forming a bearish W and price is already rejecting the 61.8% of the daily fib.
Daily:
Price could be forming a H&S pattern to confirm more downside momentum.
The 61.8% of the daily fib is also aligning with the possible right shoulder.
4H:
We should wait for deceleration on the zone of interest or a change in structure from bullish to bearish after price reaches the zone of interest.
Note
Monthly: Weekly:
Daily:
4H:
Trade active
There was a good opportunity for a buy position but the sell is not there yet because it is too impulsive to the upside so we have to wait.
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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.