As an update to my previously published idea on the short-term bear case for CHFJPY, if we now focus on the 1H time frame we can see that price is forming a nice bear flag.
This allows us to follow quite well price action and wait for a close below resistance (I will be more confident with a close on the 4H or daily though). If this happens, I will add to my initial position and maintain the previously established TP at 159.50.
This allows us to follow quite well price action and wait for a close below resistance (I will be more confident with a close on the 4H or daily though). If this happens, I will add to my initial position and maintain the previously established TP at 159.50.
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Related publications
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.