This is my idea for CHFJPY. It has shown a level of resistance for a good while now and began to consolidate. It broke out of consolidation and retested the support of the consolidation box, which turned into resistance. Waiting for a breakout of the correction/pullback and closed candle on the 1H. Nothing fancy. Just the basics. The entry will be determined when the candle closes underneath the correction. Also, I am looking to buy USDCHF. These 2 pairs have a negative correlation, which validates my ideas even more!
Order avbruten:
There was never a strong close underneath the correction. Avoided a loss.