Current Trend: Bullish
📉 Reversal Outlook: Bearish
📊 Technical Confluence Observed:
✅ A bearish divergence has formed, signaling weakening bullish momentum.
📐 The Fibonacci retracement has hit the 3.82 extension, adding further confluence to a potential reversal.
📉 A Rising Wedge pattern is currently forming – a classic bearish reversal setup.
Double Top Bearish Reversal Pattern has also formed.
⚠️ With strong multi-factor bearish signals in play, I am placing a Sell Stop with calculated risk and reward in mind.
🟢 Trade Setup
Pair: CHF/JPY
Timeframe: 1H
Strategy: Bearish Reversal Entry (Sell Stop)
Sell Stop Entry: 176.818
Stop Loss: 177.753
Take Profit 1: 175.851
Take Profit 2: 174.894
Risk–Reward: 1:1 and 1:2
Risk: $200
Reward: $300
Lot Size: (Adjust based on risk %)
#CHFJPY #ForexAnalysis #TechnicalAnalysis #ABCDPattern #Fibonacci #RisingWedge #BearishSetup #ForexTrading #RiskManagement
📉 Reversal Outlook: Bearish
📊 Technical Confluence Observed:
✅ A bearish divergence has formed, signaling weakening bullish momentum.
📐 The Fibonacci retracement has hit the 3.82 extension, adding further confluence to a potential reversal.
📉 A Rising Wedge pattern is currently forming – a classic bearish reversal setup.
Double Top Bearish Reversal Pattern has also formed.
⚠️ With strong multi-factor bearish signals in play, I am placing a Sell Stop with calculated risk and reward in mind.
🟢 Trade Setup
Pair: CHF/JPY
Timeframe: 1H
Strategy: Bearish Reversal Entry (Sell Stop)
Sell Stop Entry: 176.818
Stop Loss: 177.753
Take Profit 1: 175.851
Take Profit 2: 174.894
Risk–Reward: 1:1 and 1:2
Risk: $200
Reward: $300
Lot Size: (Adjust based on risk %)
#CHFJPY #ForexAnalysis #TechnicalAnalysis #ABCDPattern #Fibonacci #RisingWedge #BearishSetup #ForexTrading #RiskManagement
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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.
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.