CHFJPY - Bearish Again!

13 Feb

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈CHFJPY has been overall bearish trading within the falling wedge marked in red and it is currently in a correction phase approaching the upper bound.

Moreover, the green zone is a strong structure.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the structure and upper red trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As #CHFJPY approaches the red circle, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

3 hari lalu

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