CHFJPY - LONG 17/05/2019
Updated
Justification of long CHFJPY position:
-Price ranging in the lower area of the linear regression channel.
-Momentum indicator just about to cross on the positive side.
-Price just crossed 14EMA and if you added 3 more EMAS (4,18,40), we would see a formation described as "ema's death cross" starting to take place, where 18 an 40 range parallel and 4 sharply crosses both of these EMAs.
-Strong resistance in 108.200 which has failed to break in several occasions.
-Price ranging in the lower area of the linear regression channel.
-Momentum indicator just about to cross on the positive side.
-Price just crossed 14EMA and if you added 3 more EMAS (4,18,40), we would see a formation described as "ema's death cross" starting to take place, where 18 an 40 range parallel and 4 sharply crosses both of these EMAs.
-Strong resistance in 108.200 which has failed to break in several occasions.
Trade active
Stop can be moved to BE
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