CHFJPY analysis
Today's Analysis
Bias: CHFJPY will surely touch a few times inside the bearish wedge; Precisely forming a double bottom before breaking out. (Neutral)
Reason: As noted from the higher timeframes, CHFJPY broke previous high to form a new one, henceforth we should be getting a test of the previous high before continuing in the LONG direction as the relative textbook definition of retest.
Entry(Scalps): Entry upon every touch of the trendline.
Entry(Swings): Entry upon retest of previous market structure.
Enjoy Your Day.
Bias: CHFJPY will surely touch a few times inside the bearish wedge; Precisely forming a double bottom before breaking out. (Neutral)
Reason: As noted from the higher timeframes, CHFJPY broke previous high to form a new one, henceforth we should be getting a test of the previous high before continuing in the LONG direction as the relative textbook definition of retest.
Entry(Scalps): Entry upon every touch of the trendline.
Entry(Swings): Entry upon retest of previous market structure.
Enjoy Your Day.
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