CHFJPY - Shift of Momentum (Short)
Hi Traders
I am currently watching CHFJPY as it is providing a very interesting price action setup.
With the recent rejection of the structure level the momentum has shifted to bearish.
I am expecting a continuation to the downside.
An entry scenario requires a clear push below the current support level. I will place my sell limit at that very level, expecting a re-test. My trading plan requires a minimum 1:2 RR.
Once the price hits 1R (dashed line) the stop loss will be moved to break-even.
Let me know what you think in the comments below. Good luck!
I am currently watching CHFJPY as it is providing a very interesting price action setup.
With the recent rejection of the structure level the momentum has shifted to bearish.
I am expecting a continuation to the downside.
An entry scenario requires a clear push below the current support level. I will place my sell limit at that very level, expecting a re-test. My trading plan requires a minimum 1:2 RR.
Once the price hits 1R (dashed line) the stop loss will be moved to break-even.
Let me know what you think in the comments below. Good luck!
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