Forex_Trader_

CHFJPY Sell Opportunity

Corto
FX:CHFJPY   Franco suizo/Yen japonés
Price is unable to break passed the 112 price. Price is also at 3rd touch of descending trend-line. On daily time-frame zoomed-in, we see price is unable to close above 111.80, leaving high wicks above this price. This is where there are big institutional orders being placed. Therefore, this is a big area of liquidity, and price cannot close at those prices, being pushed back down. Still on daily-time frame zoomed-in, we see 4 spinning top candles which shows indecisive behaviour, where there is an accumulation of orders being placed. Therefore, we should see price fall down towards the upwards trending supporting trend-line. There is also a head-and-shoulders pattern being formed on 4 hour time frame where we are entering at the right shoulder. This is a nice ratio of 2:1.
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