[Market Breakdown 5] CHFJPY

7 במרץ 2021

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.

7 במרץ 2021

הערה

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.

7 במרץ 2021

הערה

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).