CHFJPY - One next cup of tea, please sir!
1D
Mostly range
Volumes up
4H
Downtrend weak
Bearish cypher formed
Opened Cypher but did not reach even 1st
Strong resistance at 113.750-113.850 ( Daily) touched 1 time
EFI - Looks like weak uptrend. Did not confirmed yet
1H
Uptrend
Mostly momentum bullish
Stochastic show convergence
Cup and handle patter - bullish formation.
Height of cup 650 pips = the uptrend will long around 650 PIPS UP
It will be exactly Daily SR from which it probably bounce.
I open LONG from 113.300
SL 112.900 - below 4H SR and below cup handle.
TP 113.800
RR 1.37
The final point was measured with ATR.
Mostly range
Volumes up
4H
Downtrend weak
Bearish cypher formed
Opened Cypher but did not reach even 1st
Strong resistance at 113.750-113.850 ( Daily) touched 1 time
EFI - Looks like weak uptrend. Did not confirmed yet
1H
Uptrend
Mostly momentum bullish
Stochastic show convergence
Cup and handle patter - bullish formation.
Height of cup 650 pips = the uptrend will long around 650 PIPS UP
It will be exactly Daily SR from which it probably bounce.
I open LONG from 113.300
SL 112.900 - below 4H SR and below cup handle.
TP 113.800
RR 1.37
The final point was measured with ATR.
Trade active
1\3 of distance covered. Seems is ok but little bit slower, weak momentumProbably reversal is near
Trade closed: stop reached
Momentum was weak -381 pips
RR 1.37
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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.