CHFJPY Short opportunity with 2.5 RR ratio
Updated
Hello guys,
Here I am again,
According to Elliott Wave Theory, CHFJPY appears poised for a downward movement based on the formation of a five-wave impulse pattern, with wave 5 about to start.
Furthermore, the emergence of an evening star pattern reinforces the potential for a trend reversal. An evening star is a three-candlestick pattern characterized by a bullish candlestick, followed by a small-bodied candle, and then a bearish candlestick that closes below the midpoint of the first candle. This formation indicates weakening bullish momentum and the possibility of a shift towards a downtrend.
Consequently, traders may anticipate a downward movement in CHFJPY as the Elliott Wave pattern start the 5th wave which is bit slower and complexed.
GL
Disclaimer: Forex signals provided are for informational purposes only and should not be considered financial advice. Trading forex carries inherent risks, and users should exercise caution and conduct their own research before making any trading decisions.
Here I am again,
According to Elliott Wave Theory, CHFJPY appears poised for a downward movement based on the formation of a five-wave impulse pattern, with wave 5 about to start.
Furthermore, the emergence of an evening star pattern reinforces the potential for a trend reversal. An evening star is a three-candlestick pattern characterized by a bullish candlestick, followed by a small-bodied candle, and then a bearish candlestick that closes below the midpoint of the first candle. This formation indicates weakening bullish momentum and the possibility of a shift towards a downtrend.
Consequently, traders may anticipate a downward movement in CHFJPY as the Elliott Wave pattern start the 5th wave which is bit slower and complexed.
GL
Disclaimer: Forex signals provided are for informational purposes only and should not be considered financial advice. Trading forex carries inherent risks, and users should exercise caution and conduct their own research before making any trading decisions.
Trade active
Wow... stronger than expected. Could be a bull trap. Be careful. GLTrade closed: target reached
Exactly the point where I planned for CHFJPYHope you collected a good profit
GL Guys.
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