CHFJPY Bearish Cypher or Trend Line Breakout
Bearish Cypher Harmonic Pattern would be completed at 111.740.
A broken inverted SHS and trend line resistance at the same level.
We may see a retracement towards 111.500 111.350.
On the other hand; break above the trend line will carry the price 112.400 and 112.700.
I will try short at 111.750 with stop above 112.030.
If the price breaks above the trend line we will be stoped out. However, in this case, the price is likely to retest the trendline and I will enter LONG at the retest level.
That's my short term trade plan for CHFJPY
A broken inverted SHS and trend line resistance at the same level.
We may see a retracement towards 111.500 111.350.
On the other hand; break above the trend line will carry the price 112.400 and 112.700.
I will try short at 111.750 with stop above 112.030.
If the price breaks above the trend line we will be stoped out. However, in this case, the price is likely to retest the trendline and I will enter LONG at the retest level.
That's my short term trade plan for CHFJPY
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