CHF_JPY STRUCTURE|2 TRADES PLAN
(1) THE PAIR HAS REACHED THE RESISTANCE OF THE BIG RANGE (first chart)
(2) DIAGONAL SUPPORT BROKEN
(3)LONG NOW FROM HORIZONTAL SUPPORT 1= PULLBACK TRADE. 3 TARGETS BEFORE RESISTANCE.
(4) SHORT THEN FROM RESISTANCE CONFLUENCE TO SUPPORT 2=TARGET
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LIKE AND SUBSCRIBE= SUCCESSFUL TRADING WEEK FOR YOU!
Chf-jpy
CHFJPY a short move 🦐CHFJPY on the daily chart hit a very string resistance at 117.600 area and got rejected.
Market reached the 0.5 fib level retracement and now retesting a daily resistance.
Price is moving inside a discending channel and if the market will give us a new sign of inversion, we can set a nice short order according with PLancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
CHFJPY on a 4h support 🦐CHFJPY on the weekly chart reached a very important level around the 118 area.
On the daily chart we can see that market tested once the resistance level before getting rejected back around the 116 area.
Currently on the 4h chart price is consolidating between 2 structure and we will wait for a possible break to set a nice order.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
CHFJPY ANALYSISCHFJPY broke uptrendline
Pair is based below key level at 116.55
Below SMA 100
RSI is below level 50
It's expected for coming pullback to retest broken uptrendline
than bearish movement will be occurred to first target support level (1) at 115.60
and finally target support level (2) at 114.30
CHFJPY - SWING - 31. AUGU. 2020Welcome to our weekly trade setup ( CHFJPY )!
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1 HOUR
Bullish market open and pressure.
4 HOUR
Close above main sr level closing back within our range.
DAILY
Overall waving and slowly rising market structure, good long entries!
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FOREX SWING
BUY CHFJPY
ENTRY LEVEL @ 116.630
SL @ 115.953
TP @ 117.650
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Don't miss the great sell opportunity in CHFJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (117.27). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 56.
Take Profits:
TP1= @ 115.80
TP2= @ 114.41
TP3= @ 112.00
TP4= @ 110.26
TP5= @ 108.73
SL: Break Above R2
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Don't miss the great sell opportunity in CHFJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (117.27). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 56.
Take Profits:
TP1= @ 115.80
TP2= @ 114.41
TP3= @ 112.00
TP4= @ 110.26
TP5= @ 108.73
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
GHFJPYIn CHFJPY we have seen a break and potential retest of the trendline marked out. It then looks to have formed a "double bottom" and pushed back up to the "neckline". Will price break or reverse? I will be looking for a clean reversal from this level and them looking to short. However, if we see a clean break and retest i will be looking to enter a long position.
CHFJPY: Trading Plan for Today
CHFJPY has reached a strong 4H structure resistance.
on 1H the price formed a head and shoulders pattern on that, confirming the strength of that level.
now I am waiting for a neckline breakout (1H candle close below) to short the pair.
target levels:
116.12
115.82
if the market goes up and closes above the head, setup will be invalid.
CHFJPY continue the bull trend 🦐CHFJPY on the 4 chart is moving inside an upper channel and reach the weekly resistance.
Market has now bounced at the bottom trendline of the channel and the 4h support that is also the 0.618fib retracement of the previous leg.
At the break and retest of the upper 4h dtructure we can set a nice long order according with Plancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
CHFJPY Short SetupFrom a COT perspective, we can see that the JPY continues to have a strong long contract momentum. This week the big players dropped a large chunk of short contracts.
From a technical perspective, we are entering a critical supply area. This and the COT data are enough for us to enter a trade with a good Risk to Rewards ratio.
Our target will be the 109.000 level and TP1 and TP2 can be seen along the way as well.
TP1 - it aligns the the 0.382 Fibonacci level and the daily critical demand zone
TP2 - it aligns the the 0.5 Fibonacci level and the daily critical demand zone
And the 109.000 area is not only a psychological point, but it matches also perfectly with the 0.786 Fibonacci level and the monthly critical demand zone.
Happy Trading!