CarlFX
Long

CHF JPY Double Bottom

FX:CHFJPY   Swiss Franc / Japanese Yen
- A double bottom has formed at a key level as you can see.

- We also have a break of a Descending Wedge which signals a bullish bias.

- Will be looking to take a long position if we get a pullback to the area on confluence where we have the 0.618 retracement , double bottom neckline and outside of the descending wedge .

- Will enter upon confirmation of a bullish candlestick formation like the hammer or bullish engulfing .

- Using the 1.618 extention as a profit target as it works very well with these setups as I have experienced.
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