CHFJPY - Bullish Shark completes, long ONLY after this happens!

Hey guys, CHFJPY has an interesting setup.

Pattern Identification

CHFJPY 0.07% completes bullish shark at 110.87, this is the XC 113 and BC 1618 zone.

Trade Execution

Price tried to close below the PRZ but failed to close below it on the h1 timeframe.

I will be monitoring for above average volume on a green candle close in the next few hours to go long on this.

Wait for a hourly candle close where the volume is above the black moving average line in the VSA volume indicator.

SL will go at 109.60 and TP could go at 111.35, which is a good SNR zone.

Zlecenie aktywne:

Went long at 111.20 a few minutes ago.

Price did a bullish close with above average volume.

Komentarz:

Based on the smaller shark pattern, price has hit the CD Fib 50% retracement.

I was however aiming for the bigger move.

SL will remain at 109.60 and it will be a 60 pips loss if that happens.

Else, price could bounce again from this support which was yesterday's low.