Hello Traders, Here we have a Wolfe Wave pair similar to CADJPY, we hit point 5 last week and now would be a good time to short this pair using the Wolfe Wave pattern. This cancels out the previous chart I posted on CHFJPY(linked below). Best, Chartistry
Swiss Franc has been falling for 8 months and all the time we had good levels for opening short trades in the direction of the main trend. We could be with huge profit, if we opened short positions and hold them. And again price reversed after correction and followed the main trend. When price closed below MA50, we got a signal for opening short positions. MACD...
The pair will breakout very soon, either immediately as a breakout from an ABC corrective structure or going up a bit to complete a triangle and then break down, either ways plenty of sell opportunities will materialize so keep a close watch!
the pair is breaking to the downside after a corrective move to the top trend line of the larger degree downtrend providing a nice opportunity to short it after a confirmation of break.
Similar to CADJPY, CHFJPY also completed a Wolfe Wave at 5'. Now looking at the Geo Off-Set Rule at point 4 as a target. For detailed analysis and teachings of the Geo Off-Set rule please visit: www.tradingview.com
The pair has broken out of the downtrend and I am expecting it to reach the weekly corrective structure top, from here there is good chance we will break above and gives us a huge trade to the upside once again.
CHFJPY is in the area where a possible breakout to the upside will come, if it comes it will present an opportunity to go long short term.
Three drives pattern completion at previous structure level.
I think that the trend continues towards point 5 and then follow the abc wave.
Seems like CHF will be going strong against all other currencies (Already happening against AUD and NZD). For CHF/JPY, looking at a break of the small upper trendline towards to a target of 121.5.
SL @123.20 EP @122.70 TP @120.00 RRR: 5.4 Risk: (50 Pips) Reward: (270 Pips)
Tradeline which was resistance could be support now and in combination with other indicators it makes me believe that CHF/JPY will move upwards near 125 in couple days if the trendline won´t be broken through. On 1h graph it looks like it will hold.
Here is a corrective structure that could be called a bull flag, This bull flag could be over, or not, thats why i have 2 alternatives, the channel, and the line. So there is a possibility of price going down to the channel for wave c. In any case, i will be interested in buying only when it breaks out of this channel, or goes beyond the end of wave B
i think like this , at time , in that price , we can expect bullish come's