CHF/JPY Trading Analysis (10/12/2024)
The trend is descending. The currency pair is trading in the range between 365 and 135 EMAs. The upward wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trade idea:
- Sell at the beginning of the formation of the descending wave structure, when wave A breaks the pivot 2 of the ascending truncated structure at 171.80.
- Stop-loss at 172.450 (above the local maximum of the ascending structure).
- Price levels at 170.370 and 169.500.
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