The Daily Chart on the CHF JPY looks to have given a setup to reverse the recent downtrend to head up to Resistance at 119,17. The Setup given is an ABC bullish signal that normally indicates the reversal/start of a new trend. If this holds true, then a 400 pip rally will take place in the next 5-7 days.


DAILY CHART


Supporting this imminent rally is the uptrend line that started on September 11 2012, which could give us added momentum. Trading this can be done with an Entry or Market Order with a Stop Loss Placed at the bottom of the Pennant Support on the 4H Chart that led to the Daily Bull Candle signal


4H CHART
Keeping the Stop Loss should keep the trade unaffected by temporary pullbacks along the way to the resistance target.
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