CHFJPY ARE WE TRAPPED
Observation ;
from what we see the price is biased on sells on the 4 HR time frame . this is clear as we are biased on our sells
Observation 2 ;
we clearly can see the price action is reacting on the dynamic resistance zone . this is also a good sign that we are still biased on our sells as we see large amounts of wick around that zone . consequently as a trading rule always look on the left as we use that data to help us solidify our point of trade entries .
3rd observation
we do notice that it was a previous resistance zone .On the bottom side we do notice the presence of triple bottom along our support zone . currently it is clear that our price action is trapped .
What next ?
Our best move is to wait the price to show signs of breaking out of this particular zone so that we have a concise biasness on the direction .
but here is the catch we will keep the 4HRS timeframe to watch the close of the candles
with an aim of catching one that closes out of this zone . the we can go to the lower time frames for a clear entry .
from what we see the price is biased on sells on the 4 HR time frame . this is clear as we are biased on our sells
Observation 2 ;
we clearly can see the price action is reacting on the dynamic resistance zone . this is also a good sign that we are still biased on our sells as we see large amounts of wick around that zone . consequently as a trading rule always look on the left as we use that data to help us solidify our point of trade entries .
3rd observation
we do notice that it was a previous resistance zone .On the bottom side we do notice the presence of triple bottom along our support zone . currently it is clear that our price action is trapped .
What next ?
Our best move is to wait the price to show signs of breaking out of this particular zone so that we have a concise biasness on the direction .
but here is the catch we will keep the 4HRS timeframe to watch the close of the candles
with an aim of catching one that closes out of this zone . the we can go to the lower time frames for a clear entry .
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