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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