CHFJPY / H4/ Technical Analysismarket has reached a strong daily resistance level and we have beairsh engulfing candle on H4 ,,,
Stops above swing high
Trade Green
Chf-jpy
CHFJPY approaching resistance, potential drop! CHFJPY is approaching our first resistance at 113.63 (horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 110.72 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY - SHORT IDEA UPDATEDthe market is about to hit the resistance line for the third time watch out for the short zone that is confirmed by the downtrend in H4 and the harmonic pattern, high probability of rejection down around 111.26 - 111.20 that is gonna be a great timing for long opportunity in the uptrend in D1 ( consult your chart in D1 to see ).
Happy profits guyz.
PLEASE CONFIRM THIS IDEA BY YOURSELF BEFORE TAKING ANY DECISION ON THIS TRADE
CHF/JPY-Since I spent so much time on a pair that I hateChf/Jpy has intersecting pitchforks lining up exactly with equal length and the .618 retrace. Now.... Daily TDI looks like it may have upside, my buy from bottom still running in case of the leading diagonal scenario (until I see a reversal pattern). But the 1.236 extension level would probably be a good place to catch a wick off of should price break up, and the pattern does count out to go down when consider it in entirety. Notice the "3" next to the 1.618 extension... That is because if it makes it that high I would just be looking for a flag to continue up. I would think we would get an "X" wave here, so watch this area. It is at a point where you can have large potential sells or buys so keep that in mind. But usually when I have a pattern and intersecting forks, price will wick back in....
CHFJPY approaching support, potential bounce! CHFJPY is approaching our first support at 110.34 (horizontal swing low support, 61.8% Fibonacci retracement ,100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 112.05 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching our support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching support, potential bounce! CHFJPY is approaching our first support at 110.34 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci extension, long term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 112.05 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension).
RSI (34) is also approaching our support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching support, potential bounce! Price is approaching our first support at 110.33 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 111.38 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching resistance, potential drop! CHFJPY broke out of our short term ascending support-turned-resistance line and is approaching our first resistance at 111.38 (horizontal overlap resistance) and a strong reaction might occur below this level pushing price down to our major support at 110.33 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY Double TopCHFJPY Wedge breakout & double top formation with break below the neckline.
Awaiting retest and rejection of the neckline.
Details on the chart.
Happy Trading!
CHFJPY approaching major support, potential for a bounce.CHFJPY is approaching major support at 111.27 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) where a major bounce could occur, pushing price all the way up to major resistance at 112.38 (Fibonacci retracement, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 3.9% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY LONG TERM CHANNEL ON THE BRINK OF A VIOLATION!
Observing the 4 HOURS charts on this pair it seems the price is confined in a long term channel which also reflects on the daily charts. A break of channel both on the daily and 4 hour charts would confirm a possible move to the downside targeting the crucial support of 107.800 level!
To add to the list of the confluence factors on the daily time frame the RSI is forming a bearish divergence indicating the bulls are running out of steam.
The weekly chart image shows the price confined in a long term triangle, which might act as a possible route to where the price is headed.
If the criteria are met i will update any signals related to this pair here.
Follow me if you like my analysis and for signals. cheers
Weekly shooting star and correction waveMorning Star from the Fib arc marked the start of Elliott wave 1-5 cycle. Shooting star marked the start of wave 4 which should end at 20 EMA (BB central band) from where wave 5 will start.
CHFJPY Long (short-term)Ideally should have entered @112.12 but missed the boat (like in NZD earlier), but playing catch up now in case price jumps to its current resistance at 113. Setting up a buy stop order with TP @112.983 (few pips below 113) and SL @112.087. Must monitor closely because price might only reach 112.367 (38.2 fib line) before reversing down by this week's close.
Daily:
Weekly:
Confidence: C (though aligned with current sentiment in COT esp with bearish JPY and bullish rising USD, looking at the weekly chart and price action-wise, it's a risky trade esp since we're about to wrap things up by tomorrow and has to also close this trade before US NFP news)
CHFJPY approaching support, potential bounce! Price is approaching our first support at 111.97 (horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance at 113.05 (horizontal swing high resistance, 61.8% Fibonacci extension)
Stochastic (34,5,3) is also approaching its support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching resistance, potential drop!CHFJPY is approaching our first resistance at 113.25 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 112.03 (horizontal pullback support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also seeing a bearish divergence and approaching our resistance where a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching support, potential bounce!Price is approaching our first support at 111.31 (horizontal overlap support, 38.2%, 61.8% fibonacci retracement, 100% fibonacci extension) which coincides with our long term ascending support line where a strong bounce might occur pushing price up to our major resistance at 113.15 (horizontal swing high resistance, 61.8% fibonacci extension).
Stochastic (89,5,3) is approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching support, potential bounce!CHFJPY is approaching our first support at 111.31 (horizontal overlap support, 38.2%, 61.8% fibonacci retracement, 100% fibonacci extension) which coincides with our long term ascending support line where a strong bounce might occur pushing price up to our major resistance at 113.11 (horizontal overlap resistance, 61.8% fibonacci extension).
Stochastic (89,5,3) is approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
How about going long on CHFJPY today to end the week?I am placing a buy here with the bulls on CHFJPY because here after careful review, trend analysis and pattern recognition on the 1hr time frame for entry I have identified an opportunity to buy for the CHFJPY pair with confluences to match. Take a look at my analysis I would love your feedback. My trades a specifically for intra day trading I am completely out of the market by 5pm EST each day with my profit or loss taken
CHFJPY approaching resistance, potential drop! CHFJPY is approaching our first resistance at 111.95 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 110.30 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension). A breakout below our intermediate support at 111.14 (horizontal overlap support, 100% Fibonacci extension, 50% Fibonacci retracement might provide the bearish acceleration to our major support level). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching resistance, potential drop! Price is approaching our first resistance at 111.95 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support target at 110.34 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). A breakout below our short term ascending support line might provide the bearish acceleration to our major support target.
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
