AlbashafFX | Where are the Bulls ? False Breakout ?
As you can see on the Daily Chart, CHFJPY have been in a long sideways market for soo long,
we can see that at Dec'20 to Apr'21 there are some build up momentum on our top side Channel.
This build up finally break our Channel signalling a new Trend Change.
From 4H perspective, we can see the price comeback to our Upside Channel for a retest, and The Bulls Come in with a Strong Rejection.
But now the Bulls are losing out steam to keep the movement, making two new Lower High, forming an "M" Pattern,
Our most likely scenario are, the Price will rise up into our Neckline, and slowly turn into a Bearish Movement.
and then we will place our Short order, with SL just above our Neckline zone.
If you like an update of this analysis, please consider to follow.
Stay Safe, Stay Green Brother,
we can see that at Dec'20 to Apr'21 there are some build up momentum on our top side Channel.
This build up finally break our Channel signalling a new Trend Change.
From 4H perspective, we can see the price comeback to our Upside Channel for a retest, and The Bulls Come in with a Strong Rejection.
But now the Bulls are losing out steam to keep the movement, making two new Lower High, forming an "M" Pattern,
Our most likely scenario are, the Price will rise up into our Neckline, and slowly turn into a Bearish Movement.
and then we will place our Short order, with SL just above our Neckline zone.
If you like an update of this analysis, please consider to follow.
Stay Safe, Stay Green Brother,
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