CHFJPY 240 Short – near end of ABCD pattern
We’ve been in a 4H UT since 4 Oct 2019. We are at a 78.6% completion of an ABCD pattern marked in green. We may or may not get a further increase in the PA to get to the 100% level. Either way, I will be looking for breaks in the RSI and PA trendlines. The HH as marked is tentative pending the full completion of the ABCD pattern.
Also of note, the start of the 4H UT is a double touch on a three-year low last seen in Nov 2016 as can be seen on the 1W chart:
Also of note, the start of the 4H UT is a double touch on a three-year low last seen in Nov 2016 as can be seen on the 1W chart:
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