CHFJPY sell idea
I'm trying something new here. As much as I love indicators, there comes a point where the information gets overwhelming. And I'm sure if you've seen my charts, you see what I mean.
Moving forward
My analysis focuses on the D, 4h, and 1h TFs. The larger trend is bearish, but the D(purple) timeframe is experiencing a pullback. The highlighted area is where price returns to. Since the larger trend is downward, I looked for a bearish engulfing candle on the 4H (blue) tf. From there, looking at the 1H(green) tf, finding bearish engulfing within that 4H zone gives a more accurate entry point.
I'll be waiting for the price to return to the green zone to retest it before I move, but I'm expecting the market to sell from there
Moving forward
My analysis focuses on the D, 4h, and 1h TFs. The larger trend is bearish, but the D(purple) timeframe is experiencing a pullback. The highlighted area is where price returns to. Since the larger trend is downward, I looked for a bearish engulfing candle on the 4H (blue) tf. From there, looking at the 1H(green) tf, finding bearish engulfing within that 4H zone gives a more accurate entry point.
I'll be waiting for the price to return to the green zone to retest it before I move, but I'm expecting the market to sell from there
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