Bearish on CHFJPY
This is my idea for CHFJPY. It has shown a level of resistance for a good while now and began to consolidate. It broke out of consolidation and retested the support of the consolidation box, which turned into resistance. Waiting for a breakout of the correction/pullback and closed candle on the 1H. Nothing fancy. Just the basics. The entry will be determined when the candle closes underneath the correction. Also, I am looking to buy USDCHF. These 2 pairs have a negative correlation, which validates my ideas even more!
Order cancelled
There was never a strong close underneath the correction. Avoided a loss.
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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.