CHFJPY Short Setup
From a COT perspective, we can see that the JPY continues to have a strong long contract momentum. This week the big players dropped a large chunk of short contracts.
From a technical perspective, we are entering a critical supply area. This and the COT data are enough for us to enter a trade with a good Risk to Rewards ratio.
Our target will be the 109.000 level and TP1 and TP2 can be seen along the way as well.
TP1 - it aligns the the 0.382 Fibonacci level and the daily critical demand zone
TP2 - it aligns the the 0.5 Fibonacci level and the daily critical demand zone
And the 109.000 area is not only a psychological point, but it matches also perfectly with the 0.786 Fibonacci level and the monthly critical demand zone.
Happy Trading!
From a technical perspective, we are entering a critical supply area. This and the COT data are enough for us to enter a trade with a good Risk to Rewards ratio.
Our target will be the 109.000 level and TP1 and TP2 can be seen along the way as well.
TP1 - it aligns the the 0.382 Fibonacci level and the daily critical demand zone
TP2 - it aligns the the 0.5 Fibonacci level and the daily critical demand zone
And the 109.000 area is not only a psychological point, but it matches also perfectly with the 0.786 Fibonacci level and the monthly critical demand zone.
Happy Trading!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.