CHFJPY is currently trading within a rising wedge pattern — a classic bearish setup! 📐
Right now, it's facing strong resistance around the 172.860 level. This could be a great short opportunity if bearish momentum kicks in. 🚨
A confirmed breakdown below the wedge could trigger a sharp drop toward 171.102. 🔻
Two Trade Setups to Consider:
1️⃣ Short from Current Levels
2️⃣ Short on Breakout Confirmation
⚠️ Always manage risk and wait for confirmation if you’re entering after a breakout.
📊 Let me know what you think in the comments — are you shorting CHFJPY too? 👇
#CHFJPY #ForexAnalysis #PriceAction #RisingWedge #TradingSetup #FXIdeas #TechnicalAnalysis
Right now, it's facing strong resistance around the 172.860 level. This could be a great short opportunity if bearish momentum kicks in. 🚨
A confirmed breakdown below the wedge could trigger a sharp drop toward 171.102. 🔻
Two Trade Setups to Consider:
1️⃣ Short from Current Levels
- 📍 Entry: 172.651
- 🛑 Stop Loss: 172.946
- 🎯 Targets: 172.262 ➡️ 171.110
2️⃣ Short on Breakout Confirmation
- 📍 Entry: 171.801
- 🛑 Stop Loss: 172.946
- 🎯 Target: 171.110
⚠️ Always manage risk and wait for confirmation if you’re entering after a breakout.
📊 Let me know what you think in the comments — are you shorting CHFJPY too? 👇
#CHFJPY #ForexAnalysis #PriceAction #RisingWedge #TradingSetup #FXIdeas #TechnicalAnalysis
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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.
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.