CHFJPY is on a uptrend making series of higher highs and higher lows . There is a bullish orderblock on the daily time frame , bullish orderblock represents and a institutional price move ( price moved by the banks ) . First they short the market before they made a big buy order to push price higher .Price is currently retracing and correcting that impulsive wave from the last swing low . Price is currently still dropping so the
banks can capture all the liquidity ( money ) in the order accumulation area . Now that it cleared out the liquidity in that consolidation phase it should drop a little more to fill the liquidity voids ( price imbalances ) on the 1 hour time frame which was created by the bullish orderblock . The bullish orderblock zone is a key PRZ level ( Price Reversal Zone ) , the orderblock zone is also the same zone as the 618 retracement level of the last swing low on the daily which will be a discounted price area for the banks to buy the pair . That move will make a perfect higher low for the uptrend continuation . If price hits trend line in the zone thats a bonus confirmation ;) , for entry look for a bullish engulfing or other candle stick confirmations , you can wait for price to break that downward trend line . IF you are late for entry possible re entry later down the line is when it hits uptrend line outside of orderblock zone . This swing could go for atleast 200 to 300 pips , you can set smaller TPs of 50 to 80 pips depending on your entry for one postion to hit your daily goal . First Target is the Green price level and second Target is the purple , close out and enjoy your profits when you see fit.
banks can capture all the liquidity ( money ) in the order accumulation area . Now that it cleared out the liquidity in that consolidation phase it should drop a little more to fill the liquidity voids ( price imbalances ) on the 1 hour time frame which was created by the bullish orderblock . The bullish orderblock zone is a key PRZ level ( Price Reversal Zone ) , the orderblock zone is also the same zone as the 618 retracement level of the last swing low on the daily which will be a discounted price area for the banks to buy the pair . That move will make a perfect higher low for the uptrend continuation . If price hits trend line in the zone thats a bonus confirmation ;) , for entry look for a bullish engulfing or other candle stick confirmations , you can wait for price to break that downward trend line . IF you are late for entry possible re entry later down the line is when it hits uptrend line outside of orderblock zone . This swing could go for atleast 200 to 300 pips , you can set smaller TPs of 50 to 80 pips depending on your entry for one postion to hit your daily goal . First Target is the Green price level and second Target is the purple , close out and enjoy your profits when you see fit.
