Today I present to you my Short ideas for Swiss Yen!
Last week we had a bearish leg occur breaking to the downside break lows of the range we were in. Now we can look to follow the bearish trend, so I would suggest stops ways above the high but look closer in where we are at now twitch internal structure, there will be potential opportunities to get better reward and potential to hold more for the downside to 158. First target would be the low. But with this analysis here, drawing my fibonacci on the charts it aligns perfect with the 78.6 from the main leg and 61.8 from inside leg. And further more the internal fib 0.27 alights with swing low 164.
Also take a look at the yen index. We at major lows. Am looking for yen strength to kick in soon !
Let me know your thoughts in the comments. Thank you
Last week we had a bearish leg occur breaking to the downside break lows of the range we were in. Now we can look to follow the bearish trend, so I would suggest stops ways above the high but look closer in where we are at now twitch internal structure, there will be potential opportunities to get better reward and potential to hold more for the downside to 158. First target would be the low. But with this analysis here, drawing my fibonacci on the charts it aligns perfect with the 78.6 from the main leg and 61.8 from inside leg. And further more the internal fib 0.27 alights with swing low 164.
Also take a look at the yen index. We at major lows. Am looking for yen strength to kick in soon !
Let me know your thoughts in the comments. Thank you