At first, I see that CHFJPY respects its trendline, then I added Schiff Pitchfork that provides clearer levels of the price movement. I consider the 0.5 line of Pitchfork as an inner trend line and the 1.0 line of Pitchfork as the main trend line.
Now the movement of price seems slow, that I predict the price will move down first to take more orders to rise. In the next supply zone, the traders would take profit that makes the price will retrace a bit. Afterward, the price will continue the trend and break the supply zone.
*For education only*
*Risk management is number one*
Now the movement of price seems slow, that I predict the price will move down first to take more orders to rise. In the next supply zone, the traders would take profit that makes the price will retrace a bit. Afterward, the price will continue the trend and break the supply zone.
*For education only*
*Risk management is number one*