CHFJPY: The Perfect Selling Opportunity
Here is another perfect setup for shorting. The price bounced from the resistance zone. The market gives us a double as a trend reversal signal as well as a bearish divergence. RSI confirmed the price reversal, and now it supports sellers. MACD is bearish. ADX line of DMI indicator tells us that buyers are not so active as before. All these bearish signals allow us to think about searching for exact entry levels for short trades using the daily and hourly charts. We can follow the breakout signal below the local uptrend line as well as a reversal signal from the resistance zone if the price moves to this resistance one more time.
The market has the space for the downward movement and our main profit target may be based on the support zone at 112.00 level and SMA100.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The market has the space for the downward movement and our main profit target may be based on the support zone at 112.00 level and SMA100.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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