Hello,
A potential selling opportunity is setting up on the CHFJPY pair on the 45-minute chart. The pair is currently forming a corrective pattern, as shown in the analysis, and is approaching the moving average—signaling a potential continuation of the downtrend.
Additionally, the MACD indicator has just registered a zero-line crossover, further strengthening the bearish outlook.
For risk management, consider placing a stop loss just above the previous correction level, around 169.62, to mitigate potential reversals.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Good luck!
A potential selling opportunity is setting up on the CHFJPY pair on the 45-minute chart. The pair is currently forming a corrective pattern, as shown in the analysis, and is approaching the moving average—signaling a potential continuation of the downtrend.
Additionally, the MACD indicator has just registered a zero-line crossover, further strengthening the bearish outlook.
For risk management, consider placing a stop loss just above the previous correction level, around 169.62, to mitigate potential reversals.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Good luck!
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Disclaimer
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Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
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.