CHF/JPY is trading in a two-month descending channel. This downward-sloping movement prevailed for most of this time until last week when the Swiss Franc failed to test its bottom boundary circa 112.80. Nevertheless, the pair likewise failed to edge higher and thus entered a week-long consolidation period in the 113.16/56 area. This balance between bulls and...
CHFJPY broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin. My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0. Each order contains a 30 pip stop loss and no take profit target. These...
Which setup will happen? Buy above the neck line or sell below the right shoulder.
The previous forecast for the Swiss Franc against the Japanese Yen lasted only in the short term. On a medium scale a medium term resistance line showed enough strength for the pair to descend in a new pattern. Most recently the descending channel pattern has reached a massive scale long term support line. The line is strengthened by various levels of...
The situation on the CHF/JPY currency pair is hard to understand at first glance. However, if one keeps it short, the currency rate is surging in three various ascending patterns simultaneously. Although, in accordance with the patterns the currency pair is about to experience a period of rather flat trading or a surge. The reason for that is the fact that an...
Price is on a hourly bearish trend. CHF rejected 50% fibonacci retracement % MA50. Waiting for a breakout of the correction to open a short position till 115.00 aprox. A breakout above MA would invalidate the trade.
Whats up traders ! ( Look below for more timeframe ) Accumulation of : - Lot of fibonacci retracement ( accumulation zone ) - Daily & 4H Trendlines - Three drive pattern ( wave #3 ) - Horizontal support - Stochastic to be oversold Look for an entry in the circle area Like & Subscribe for more ! :)
If we get a strong colse below the current ascending trendline we could go down for a retest of the major descending trendline. A nice quick trade I would like to take.
CHF_JPY: Swiss just broke the resistance line recently. This time it is aiming to retest the major resistance at the top. A flag pattern is on the making so buy at the support area is not a bad idea.
Waiting for a daily candle to close above 114.893, will be looking for either (1) an engulfing candle or (2) a break and retest of structure high. Not much to it besides basic price action and pivot points. The current consolidation inside the yellow zone leads me to believe a bullish trend will commence here in the next few days. Areas of interest will be the...
if it does not break the trendline upwards we should be looking for a short!