Good day traders,
The CHFJPY is approaching it's all time high at 158 but I have good reason to sell now and hold. We observed CHFJPY reject on our resistance cluster after breaking out of our rising wedge pattern which caused a fakeout/ Fake out/ False breakout. We have seen this pair do this in the past thus we are considering the market close today to be within the rising wedge. In the event thaat we close above the wedge pattern, we will wait for the currency pair to get within the 148 - 158 region beffore attempting to short.
For now, we observe this quarter's close and take advantage of the opportunities it brings.
What do you think of this? Please share your thoughts below.
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
The CHFJPY is approaching it's all time high at 158 but I have good reason to sell now and hold. We observed CHFJPY reject on our resistance cluster after breaking out of our rising wedge pattern which caused a fakeout/ Fake out/ False breakout. We have seen this pair do this in the past thus we are considering the market close today to be within the rising wedge. In the event thaat we close above the wedge pattern, we will wait for the currency pair to get within the 148 - 158 region beffore attempting to short.
For now, we observe this quarter's close and take advantage of the opportunities it brings.
What do you think of this? Please share your thoughts below.
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
Trade closed: stop reached