CHFJPY
Updated
Here is a potential scenario with good profit provided the price falls below 147,612.
SL few points @ 150.55
TP 142.9
If there is a week closing price above 150.55 then this set up becomes obsolete.
SL few points @ 150.55
TP 142.9
If there is a week closing price above 150.55 then this set up becomes obsolete.
Note
SL 150.62 as a precaution.Note
Two things are important to me now:1. Let's see where they close this week,
2. Let's see where they close this month.
Personally I think the last bullish rise is wave (B) and should be followed by a bearish wave (C) which should fall below (B).
However, since wave (B) is often an overshooting and "unpredictable" wave, it is possible that after tomorrow's peak it will first correct into May.
As far as the overshooting (B) is concerned, then in the next month it will rise slightly above the April high - indicated in blue.
First confirmation of falling prices would be breaking @149.562 and second would be closing below @147.612.
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.