In this analysis I noticed how prices accumulated then blasted off from the prz of a shark pattern. based off the current structure, we can see that price was moving in a bearish expanded triangle that became overbought.....thanks to my knowledge of seeing how the banks trade as well I can see that the "uptrend" that we see is only creating supplies for new sellers. Bringing all together I can infer that the bears are very eager and ready to go and test the buyers of the prior pattern before bringing in new sellers. I also had a similar analysis for gold before marking up this chat so I am very confident in this trade idea because if you put gold and chfjpy on a chart together you will see how closely the pair correlates. GIVE ME A THUMBS UP IF YOU AGREE W/ MY ANALYSIS! LEAVE A SOME FEEDBACK SO I CAN KEEP BRINGING YOU GUYS MORE OF THESE ACE ANALYSIS!
Trade active
I was looking for a break of the 116.500 level to go short and it was confirmed with a tweezer tops, opening shorts now!!
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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.