CHFJPY Prepare for the next bearish move

Hi traders:

Similar like EURJPY, I do see some good bearish confluence for possible selling opportunity.

We can see price has reverse from the top of the higher time frame structure, and a strong impulse phase to push down the price.

Naturally after an impulse phase, price falls into a corrective phase. This time its creating an expanding structure.

To confirm the further downside, we see price did push down on the lower time frame, and its creating a bearish flag continuation.

Now that price has manage break below, waiting for another LTF correction would be ideal for possible entry down to the previous lows.
And if price can manage to continue the impulse phase, then expect further downside from the price.

thank you

Commentaire:

Price is looking to impulse down further, watch for more LTF continuation corrections.

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