Get started
RTED_Investing

CHFJPY 1H Possible Double bottom in an up trend channel

Long
Swiss Franc / Japanese Yen (FX:CHFJPY)  
RTED_Investing Updated   
FX:CHFJPY   Swiss Franc / Japanese Yen
Trend Lines Double Top or Bottom Moving Averages CHFJPY Double Bottom Ascending Channel EMAS macdcross
3
1
trendline doubletoporbottom movingaverage chfjpy doublebottom ascendingchannel emas macdcross
On this 1H chart for CHFJPY we can notice that the price has been moving in an up trend channel for a while now. Recently it dropped to test the up trend support. At this stage the price is forming a potential double bottom. Monitor it for a potential breakout.

Additional confluences:

- MACD can produce a bullish cross if the price starts going up to complete the Double bottom
- The 2 bottoms are re-bouncing from the 200 EMA
- If the price goes up, in can cross above the 20 and 50 EMAs. Monitor for a bullish cross
Trade closed: target reached:
Price went up and reached the rarget of the double bottom pattern. From there it dropped below the general up trend Support of the channel
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.