CHFJPY: Trend Reversal Signal
The price bounced from 117.600 level. RSI and MACD histogram confirmed the price reversal. At the same time, we have a bearish divergence, which is a trend reversal signal. If the price can stay below the resistance level and breaks the local uptrend line, it will give a selling opportunity.
Here is an example of a short trade:
Sell below 117.400
Stop above 117.650
Profit Target at 116.450
Risk per trade must be 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Here is an example of a short trade:
Sell below 117.400
Stop above 117.650
Profit Target at 116.450
Risk per trade must be 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.