Good morning traders!
We have a potential structure based selling opportunity on CHFJPY. The pair has broke out of a trend line on the higher time frame, so there is a chance that there could be a brief period of selling we can capitalize on. Sell on confirmation only. Right now the market has paused at a key 111.500 level, which is a proven level of support/resistance. There is also RSI divergence at this level. You can also look for additional confluence or add filters to build a case to sell.
Thanks,
P.S.
We have a potential structure based selling opportunity on CHFJPY. The pair has broke out of a trend line on the higher time frame, so there is a chance that there could be a brief period of selling we can capitalize on. Sell on confirmation only. Right now the market has paused at a key 111.500 level, which is a proven level of support/resistance. There is also RSI divergence at this level. You can also look for additional confluence or add filters to build a case to sell.
Thanks,
P.S.