This pair seems to be creating a Flag Pattern on the Daily Chart (See chart below).
In the flag, I see a bullish opportunity in an ABCD pattern. Price has broken out of the 60 min downward trendline, and has retested the trendline again at the 0.618 fib area of the retracement.
I take a buy now in the short term with target around 114.2 area.
If price reaches that area, I will wait for another set up to long to the 115.2 area.
I will update trade with time.
your likes and comments are welcome.
Trade with care, and with a tested strategy.
In the flag, I see a bullish opportunity in an ABCD pattern. Price has broken out of the 60 min downward trendline, and has retested the trendline again at the 0.618 fib area of the retracement.
I take a buy now in the short term with target around 114.2 area.
If price reaches that area, I will wait for another set up to long to the 115.2 area.
I will update trade with time.
your likes and comments are welcome.
Trade with care, and with a tested strategy.
Note
Flag on the Daily Chart
Note
+60 pips.You can close half position, and put rest at Break even.
Note
Sorry. Pair is CHFJPY (not CADJPY as indicated in the title of idea). Thanks
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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.