CHFJPY Shall we Buy or Shall we Sell [Long term scenaio]

Theamy의

Analysis :

Price is on a resisatnce zone,
Price is inside a rising wedge pattern,
Bulls are rejected on the rising wedge top bound.

Two Scenarios are forseen

Buy :

Wait for the breakout of the higher bound of rising wedge pattern & retest,
Wait for a rejection/continuation candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
Initiate BUY order,
Targets our supports zones [~112.45 & ~113.24],
SL bellow rising wedge lower bound [~112.17].

Sell :

Wait for a bearish reversal confirmation,
Wait for a resisance zone breakout,
Wait for a rejection/continuation candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
Initiate SELL order,
Targets the rinsing wedge lower bound [~111.47],
SL above rising wedge upper bound [~112.36].

/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.

Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together.
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A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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