CHFJPY finishing head and shoulders, going short
https://www.tradingview.com/x/WBkFg5Oj/CHFJPY is in the middle of finishing the right shoulder of a head and shoulders pattern meaning the pair is going to fall. The pair has also just broke below a rising channel and retested it making the upcoming downtrend even more obvious. On top of that on a daily perspective we can see that not only is the pair completing a very common pattern of fall, retracement, and more fall, but the pair has also just retested a supply zone and is now dropping out of it making it even more clear that this pair is going to drop.
Entry @ 113.816
SL @ 114.071
TP @ 113.358
Entry @ 113.816
SL @ 114.071
TP @ 113.358
Trade closed: stop reached
SL hit
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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.