Hello guys this is Francesco and I am going to tell you what happend in chfjpy in last days/weeks.
As you can see a rettangle had been created and price has had broken it but it WAS A FAKE BREAKOUT, big commercial Banks and Istitutional trader use this strategy to push price in the opposite direction of the trade thet want to execute, and then when most part of traders enter at market (sell positions in this case) Istitutionals insert their huge orders and make the price go up a lot.
So before a big movement always try to identify possible stop Huntings.
Now price could reach 112.00 or even higher, look for a possible short trade just if there will be clear bearish signals; I will update you on this pair
As you can see a rettangle had been created and price has had broken it but it WAS A FAKE BREAKOUT, big commercial Banks and Istitutional trader use this strategy to push price in the opposite direction of the trade thet want to execute, and then when most part of traders enter at market (sell positions in this case) Istitutionals insert their huge orders and make the price go up a lot.
So before a big movement always try to identify possible stop Huntings.
Now price could reach 112.00 or even higher, look for a possible short trade just if there will be clear bearish signals; I will update you on this pair