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CHFJPY Potential Bearish Shark And Butterfly Patterns Update: TP1 Reached

Two bearish harmonic patterns and short trade setups on CHFJPY

Short Setup 1 / Trade Active

Trade Based On Bearish Butterfly Pattern 

Trade: Short

Time Frame: H1

Trade Period: Intraday  / Midterm

Estimated completion time: 2 –16 H1 CANDLESTICK

The trend in the Timeframe: Bullish 

The trend in the Daily Chart: Bullish

The accuracy of the pattern: 83 %

Recommended Lot Size: 0.10 at 10K

Area of the Entry: 111.040 – 111.100

Stop Loss: 111.200

Target 1: 110.940 / Reached

Target 2: 110.850 / Reached

Target 3: 110.760 / Reached

Update: TP3 Reached. We close 70% of the positions and move SL to entry. Ultimate target: 110.530.

Short Setup 2

Trade Based On Bearish Shark Pattern 

Trade: Short

Time Frame: H4

Trade Period: Intraday  / Midterm

Estimated completion time: 2 –18 H1 CANDLESTICK

The trend in the Timeframe: Bullish 

The trend in the Daily Chart: Bullish

The accuracy of the pattern: 94 %

Recommended Lot Size: 0.10 at 10K

Area of the Entry: 111.340 – 111.440

Stop Loss: 111.700

Target 1: 110.940

Target 2: 110.750

Target 3: 110.520

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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