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FXKjell

[Market Breakdown 5] CHFJPY

Swiss Franc / Japanese Yen (OANDA:CHFJPY)  
FXKjell Updated   
OANDA:CHFJPY   Swiss Franc / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis CHFJPY short neutral psychology sundayanalysis FLOW
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trendanalysis chartpattern beyondta chfjpy short neutral psychology sundayanalysis flow
You can see that we are currently sitting around a major Sell region.
We have received a Double Top formation.
We have received a solid Bearish candle.
We have received a Monthly -68 Fib completion.
These are all nice indications for a possible short set-up.
Comment:
We were moving in an ascending channel, making HHs and HLs.
We broke the ascending channel and the last HL.
We have received a solid bearish candle.
This was all indication for a short set-up.
snapshot
Comment:
On the Daily chart we are also in a downtrend as we broke the ascending channel/Last HL.
We have received a bearish impulse as indication.
We do expect a confirmation in the form of a Natural W pattern.
Clear Supply & Demand zone sitting at the region of interest (100.00 Fib).
snapshot
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