CHFJPY Short

19 Tem 2021

Top down analysis:

D1 (Higher timeframe - trend direction):
Looking for a clear trend and support & resistance

• Lower low - lower high on D1 (clear downtrend)
  
• Resistance level på D1 has been respected
  

H4:
Looking for countertrends

• Nice long pull back (countertrend) on the H4
  
• Price is closer to the upper trendline (lots of headroom for the price to continue down)
  
• H4 Trendline has now been broken and price has retraced back to a D1 resistance
  

H1: (trading timeframe)
Looking for dobbel top patton for confirmation

• H1 candle closes past the last H1 fractal
  
• Price returns and closes near the H4 50% Fibonacci level
  
• Dobbel top
  
• Bearish candle (selling pressure)