CHFJPY: Still Bullish! How to Catch the Wave???

29 Jul 2020

CHFJPY is retesting a key daily structure.
the price has been rejected from that level first and then formed a dodji candle.

on 4H the price is consolidating within a bearish flag pattern formation.
now the price is trading within a 4H structure support zone matching with a daily level and fib.confluence of the last two bullish legs.

to catch the next bullish wave we must wait for a bullish violation of the flag (4H candle close above its resistance)
then we can buy on retest or aggressively.

initial goal will be:
115.24

stop below the last low within the flag.

in case of a bearish violation of 4H yellow structure area, setup will be invalid.