CHFJPY Short - Flashcard

CHFJPY Short
Direction: - The pair retested Source at the H4 OB (OrderBlock).
- Reversal expected as liquidity was trapped at the Source.
- At last level of Bullish Cycle.

Entry: - M ( Double Top ) Pattern Formation on the M15 & H1.
- Divergence occurred on the H1.
- RSI crossed volatility bands (Shark-fin).
- RSI above 68, indicating pair was overbought.
- Pair crossed 13 EMA confirming continuation of drop .

Exit: - 18 pip SL @ just above H4 OB & high.
- 38 pip TP @ just above YL (Yesterday's Low).