CHF/JPY : SHORT

3 Jan 2022

Why are we entering?
- Expecting CHF weakness and JPY strength = CHFJPY short
- expecting an ascending correction

What are we waiting for to happen?
- CHF index to double top and drop
- break of WFB
- Break of 1H EMA which is keeping price up

Entry
SAFE Entry: Rejection of ascending correction and then WFB
Risk Entry 1: Break of WFB without rejection of ascending correction

Once entered, where will our Stoploss be?
- above the rejected price

Where do we take profits?
- First TP: 122.2 (400pips)
- Second TP: 120 (600pips)
- Third TP: Leave open