We’re closely monitoring the CHF/JPY pair, which has been in a bullish trend. However, key signs of a potential reversal are now surfacing.
A rising wedge—a classic bearish reversal pattern—has formed on the 1-hour chart, and a strong bearish divergence is also present, indicating weakening bullish momentum. Additionally, sentiment data shows 85% of retail traders are short, giving us a slight contrarian warning.
The bulls vs. bears score is roughly 1:2, suggesting bearish strength is building. We’re waiting for a confirmed break of the previous higher low (HL), which would validate a structural shift into a bearish trend.
🔹 Pair: CHF/JPY
🔹 Timeframe: 1H
🔹 Trend: Bullish (reversal anticipated)
🔹 Pattern: Rising Wedge
🔹 Divergence: Bearish
🔹 Sentiment: 85% Short (Myfxbook)
🔹 Bias: Bearish
🔹 Entry (Sell Stop): 179.557
🔹 Stop Loss: 181.468
🔹 Take Profit: 177.646
🔹 Lot Size: 0.15
🔹 Risk/Reward: 1:1
🔹 Risk: $200
🔹 Potential Reward: $200
🎯 Strategy: Entry will trigger only if price breaks below the previous HL and confirms a new lower low (LL), signaling the start of a bearish trend.
📌 #CHFJPY #ForexSignals #RisingWedge #BearishDivergence #TrendReversal #SmartMoneyMoves #RetailSentiment #BreakoutTrade #PriceActionSetup #TechnicalAnalysis #1HChart #ForexTradeIdeas #BearishBias #RiskManagement
A rising wedge—a classic bearish reversal pattern—has formed on the 1-hour chart, and a strong bearish divergence is also present, indicating weakening bullish momentum. Additionally, sentiment data shows 85% of retail traders are short, giving us a slight contrarian warning.
The bulls vs. bears score is roughly 1:2, suggesting bearish strength is building. We’re waiting for a confirmed break of the previous higher low (HL), which would validate a structural shift into a bearish trend.
🔹 Pair: CHF/JPY
🔹 Timeframe: 1H
🔹 Trend: Bullish (reversal anticipated)
🔹 Pattern: Rising Wedge
🔹 Divergence: Bearish
🔹 Sentiment: 85% Short (Myfxbook)
🔹 Bias: Bearish
🔹 Entry (Sell Stop): 179.557
🔹 Stop Loss: 181.468
🔹 Take Profit: 177.646
🔹 Lot Size: 0.15
🔹 Risk/Reward: 1:1
🔹 Risk: $200
🔹 Potential Reward: $200
🎯 Strategy: Entry will trigger only if price breaks below the previous HL and confirms a new lower low (LL), signaling the start of a bearish trend.
📌 #CHFJPY #ForexSignals #RisingWedge #BearishDivergence #TrendReversal #SmartMoneyMoves #RetailSentiment #BreakoutTrade #PriceActionSetup #TechnicalAnalysis #1HChart #ForexTradeIdeas #BearishBias #RiskManagement
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.