COUNTER-TREND FOLLOW UP PLAN | CHFJPY (4H)

As we continue to enjoy an 81pips run on our previous speculation on this pair (see link below for reference purposes), find below a possible counter-trend trade as we still are on an overall bearish tendency;

Tendency: Temporary Uptrend ( Bullish )
Structure: Harmonic | AB=CD forming
Observation: i. Impulse A-to-B is in harmony with the B-to-C leg.
ii. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg.
iii. Price rejects 15.00000 zone forming a resistance and completing correction of AB to form C.
iv. Expected C-to-D leg is a 127.2% Fib. ext. of the A-to-B move which is also equal to the A-to-B leg in distance.
v. Price below Moving Averages indicating a continuation to point D.
Trading plan: BUY at D zone with TP1 and TP2 (100pips) and SL @ 108.700/108.500zone.
Risk/Reward: 1/3
Potential Duration: 2 to 5 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.


FREE TELEGRAM CHANNEL:
Subscribe and get real-time trading tips and updates
https://t.me/nirvanaconsorts

FACEBOOK PAGE:
www. facebook .com/nirvanaconsorts/

PRIVATE MESSAGE:
Whatsapp: +2348164343827 or
Telegram: https://t.me/AskMasterSheriff






Nirvana! Forex Trades & Investments
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.