CHFJPY Short Trade Idea
Updated
#FOLLOW4FOLLOW
Looking at CJPY, it appears to have formed an ordinary bearish channel satisfying and validating both trendlines
with three touches each. This then encouraged a 5 wave motive move made up of three spikes and 2 exhaustion moves.
I am looking to trade the completion leg of this pattern upon the validation of wave 3 - 4.
Targets:
@ 108.800
@ 107.600
Looking at CJPY, it appears to have formed an ordinary bearish channel satisfying and validating both trendlines
with three touches each. This then encouraged a 5 wave motive move made up of three spikes and 2 exhaustion moves.
I am looking to trade the completion leg of this pattern upon the validation of wave 3 - 4.
Targets:
@ 108.800
@ 107.600
Trade active
Trade is activeOrder cancelled
Trade hit my SL. This invalidates the 5 motive move as price has moved above the 38.2% fib retracement
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.