Bias Bearish from H4 TF
Fundamental
JPY is strong with a lot of bullish data. CHF is fairly strong but interest rate come down
Price Action
Price retrace back into Daily SR level. Formed a double top pattern. Price breakout of the SR level of H1 rejected from Daily S/R level. Price is bearish to continue the H4 trend align with the Trendline
Confluence
Reject daily S/R level & H4 bearish trendline. Formed double top pattern and broke lower low close. H1 SR level and bullish trendline both got broke which make it a strong confluence point
Setup
Short Entry Broken H1 SR level.
SL 2x ATR(20)
TP Next daily SR level below. R:R 1:3
Fundamental
JPY is strong with a lot of bullish data. CHF is fairly strong but interest rate come down
Price Action
Price retrace back into Daily SR level. Formed a double top pattern. Price breakout of the SR level of H1 rejected from Daily S/R level. Price is bearish to continue the H4 trend align with the Trendline
Confluence
Reject daily S/R level & H4 bearish trendline. Formed double top pattern and broke lower low close. H1 SR level and bullish trendline both got broke which make it a strong confluence point
Setup
Short Entry Broken H1 SR level.
SL 2x ATR(20)
TP Next daily SR level below. R:R 1:3
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.
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.