🔹 Current Market Structure:
The CHF/JPY pair is currently trading within an indecisive area, facing key levels that will determine its next move. The price recently tested a strong resistance zone and is now showing signs of weakness.
🔹 Key Observations:
1️⃣ Indecisive Area – Price is consolidating within a small range. A breakout will provide confirmation of direction.
2️⃣ Needed Volume Zone – This area needs strong momentum to continue further downward movement. If the price fails to sustain below this level, we might see a short-term pullback.
3️⃣ Reversal Area – If price continues its descent, this zone could act as a potential support and trigger a reversal.
🔹 Trade Outlook:
📌 A candle close below the indecisive area will strengthen bearish momentum, increasing the probability of price reaching the needed volume zone and eventually the reversal area.
📌 However, a strong bullish rejection from the current level could lead to a pullback towards the previous resistance zone.
⚠️ Stay patient and wait for confirmation before entering a trade!
What are your thoughts on this setup? Let me know in the comments! 💬👇
#Forex #CHFJPY #Trading #TechnicalAnalysis #PriceAction
The CHF/JPY pair is currently trading within an indecisive area, facing key levels that will determine its next move. The price recently tested a strong resistance zone and is now showing signs of weakness.
🔹 Key Observations:
1️⃣ Indecisive Area – Price is consolidating within a small range. A breakout will provide confirmation of direction.
2️⃣ Needed Volume Zone – This area needs strong momentum to continue further downward movement. If the price fails to sustain below this level, we might see a short-term pullback.
3️⃣ Reversal Area – If price continues its descent, this zone could act as a potential support and trigger a reversal.
🔹 Trade Outlook:
📌 A candle close below the indecisive area will strengthen bearish momentum, increasing the probability of price reaching the needed volume zone and eventually the reversal area.
📌 However, a strong bullish rejection from the current level could lead to a pullback towards the previous resistance zone.
⚠️ Stay patient and wait for confirmation before entering a trade!
What are your thoughts on this setup? Let me know in the comments! 💬👇
#Forex #CHFJPY #Trading #TechnicalAnalysis #PriceAction
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.