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THIS ANALYSIS IS DONE ON H1 AND H4, UNLIKE ON D1.
HOWEVER, NOTE THE FOLLOWING:
- CHFJPY WHIPSAWS A LOT. SO, EXPECT CANDLESTICKS WITH LONG WICKS.
- THIS COULD BE A TREND REVERSAL ABOVE A KEY PSYCHOLOGICAL LEVEL (@120)
- MOVING AVERAGES USED ON THIS CHART HAVE CROSSED UPSIDE ON H1 TO BUTRESS MY ANALYSIS
- IT COULD ALSO BE SOME SORT OF A GARTLEY/HARMONIC PATTERN (IF YOU'RE FAMILIAR WITH THAT)
- THE WHITE HORIZONTAL LINES ARE POSSIBLE TAKE-PROFIT LEVELS IF THE BULLISH MOVE HAPPENS
- USE PROPER SL AND TP ACCORDING TO HOW YOUR IDEA OF THE ANALYSIS AND RISK MANAGEMENT IS
DISCLAIMER: DO NOT TRADE WITH BORROWED MONEY OR THE ONE YOU CAN NOT AFFORD TO LOSE.
FX IS A HIGH RISK HIGH REWARD MARKET AND VERY VOLATILE
THIS ANALYSIS IS DONE ON H1 AND H4, UNLIKE ON D1.
HOWEVER, NOTE THE FOLLOWING:
- CHFJPY WHIPSAWS A LOT. SO, EXPECT CANDLESTICKS WITH LONG WICKS.
- THIS COULD BE A TREND REVERSAL ABOVE A KEY PSYCHOLOGICAL LEVEL (@120)
- MOVING AVERAGES USED ON THIS CHART HAVE CROSSED UPSIDE ON H1 TO BUTRESS MY ANALYSIS
- IT COULD ALSO BE SOME SORT OF A GARTLEY/HARMONIC PATTERN (IF YOU'RE FAMILIAR WITH THAT)
- THE WHITE HORIZONTAL LINES ARE POSSIBLE TAKE-PROFIT LEVELS IF THE BULLISH MOVE HAPPENS
- USE PROPER SL AND TP ACCORDING TO HOW YOUR IDEA OF THE ANALYSIS AND RISK MANAGEMENT IS
DISCLAIMER: DO NOT TRADE WITH BORROWED MONEY OR THE ONE YOU CAN NOT AFFORD TO LOSE.
FX IS A HIGH RISK HIGH REWARD MARKET AND VERY VOLATILE