Hello traders, In today's article, I'd be sharing my analysis on CHFJPY and the reasons for my bullish bias . Here on the daily timeframe, we see a market in an uptrend as indicated by the ascending trendline. But what's more interesting to see is how we have seen a pattern repetition every time the market pulls into the ascending trendline.
We see a double bottom at every test of the trendline, and as with the rule of trading double bottoms, we would most likely be waiting on the retest/corrective move of this pair to test what retailers would consider "the neckline" of the W pattern. Alternatively, for those who use Fibonacci, we'd be anticipating a correction to either to 38.2%, 50% or 61.8% fib level and look for trend continuation inside the zone.
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We see a double bottom at every test of the trendline, and as with the rule of trading double bottoms, we would most likely be waiting on the retest/corrective move of this pair to test what retailers would consider "the neckline" of the W pattern. Alternatively, for those who use Fibonacci, we'd be anticipating a correction to either to 38.2%, 50% or 61.8% fib level and look for trend continuation inside the zone.
If this helps, please don't forget to drop a LIKE for us and support us for the release of more educational contents.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.