CHFJPYgiving Bearish Evidances According Price Action
Over All Moving In Ascending Broadening Wedge In Daily Tf
Recently Brokes Ascending Channel Too
Now Forming Symatricsal Triangle + Printed Massive Bearish Divergence Too
Lets Summyrize thses Evidances
chfjpy was in strong uptrend since very longtime
right now price actiom showing sighns of trend reversal
the only thing we needs is breakout of symtcl triangle to the downside then you can sell for minimum 800 pips( lower trendline test)
Chf-jpy
CHFJPY Undecided around the 1D MA50.The CHFJPY pair has been trading on one of the most consistent patterns of the last 12 months as we accurately outlined on our last analysis in mid September:
Once again the signal played out as it pulled-back as low as the 0.5 Fibonacci retracement level and then the price has been trading sideways ever since. The 1D RSI has again formed Lower Highs but this time the MACD on the 1W time-frame is on a confirmed Bearish Cross.
As a result, we are only willing to approach this with break-outs. A 1D closing below the 1D MA100 (green trend-line), would be a sell break-out signal targeting the 1D MA200 (orange trend-line), while one above the 1D RSI Lower Highs and the price's 150.700 Resistance, would be a buy break-out signal targeting the 2022 Higher Highs trend-line.
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CHFJPY SELL IDEAHello Traders!!!
We have seen CHFJPY in a bullish scenario for some weeks now and recently we have spotted a clear CHOCH on the higher timeframes so we have then selected our supply zone having a sell based bias.
Price has entered the zone and it's most likely to melt to the downside.
Cheers!!!
Under Cover Trading
Swing Trading Simplified!!!!!
💡Don't miss the great sell opportunity in CHFJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (147.220).
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 a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 28.
Take Profits:
TP1= @ 146.431
TP2= @ 145.893
TP3= @ 145.210
TP4= @ 144.310
TP5= @ 143.516
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 the suggested resistance line (147.220).
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 a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 28.
Take Profits:
TP1= @ 146.431
TP2= @ 145.893
TP3= @ 145.210
TP4= @ 144.310
TP5= @ 143.516
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 / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
CHFJPY One of the most consistent signals of the past 12 months.The CHFJPY pair has been pulling back after the September 13 High, following the impressive rally since the August 02 low. This pull-back is taking place after the 1D RSI broke the 80.00 heavily overbought barrier.
On this 1D chart, you may notice that especially since October 20, 2021, every time the 1D RSI got heavily reversed upon breaking the 70.00 level, the pair pulled-back. Out of the 5 times that happened in total, in 2 occasions it hit the 0.382 Fibonacci retracement level, and in the other 3 in broke even below the 0.618 Fib.
As a result, it is highly likely to see this pattern repeating. The 0.382 Fib is the highly probable target and is at 145.600 (where is should hit the 1D MA50 (blue trend-line) in the process), while the 0.618 is at 142.500 (where it could make contact with the 1D MA100 (green trend-line)). If you are a medium-term, swing trader, this is one of the most consistent trades you can take at the moment.
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CHF/JPY SHORTShorting Potential:
- Double top
- Price has rejected major resistance.
- Price came back to re-test local up trendline and rejected it.
- Price rejected the 618 level.
- Evening Star pattern + Now we have just closed with an engulfing bearish candle signalling a shorting potential.
- Divergence in RSI on 2HR TF and slowing buying momentum signalling a change in price.
** Stop Loss just above the 618 fib level and Targets at 50% of the way down from the 2nd August Low.
CHF/JPY Next Possible MovementCHF / JPY ( Swiss Franc / Japanese Yen ) Technical Analysis Chart Update
Time Frame - H2
According to the Long Time Frame #LTF it is following the Expanding Diagonal and It has #Breakout the Upper Trend Line #UTL and Retested
In #LTF it is also following the Impulse Correction Impulse as well as in Short Time Frame #STF it has completed its " ABC " corrective wave and Following Impulsive Wave
In Short Time Frame #STF it is Following Bullish Channel it is possible that it will Reject from the Upper Trend Line #UTL and Daily Resistance Level and then Follow Sell Trend according to this Pattern
Buy After it breaks the Daily Resistance Level and Retest
Sell After Strong Bearish Price Action
CHFJPY excellent short-term sell opportunityThe CHFJPY pair has been trading within a Channel Down since the June 29 High being at the moment near its Lower Highs (top) trend-line. This is an ideal sell opportunity on a tight SL targeting the 1D MA100 (green trend-line), which has been the MA support since the October 08 2021 break-out.
As a result only a closing below it, can justify further selling, in which case the target will be either the 1D MA200 (orange trend-line) or the September 20 2021 Higher lows trend-line. Until then, expect trading within the Channel Down. On a side-note, there are increasing bias towards a longer-term bearish trend, as the RSI on the 1W time-frame, has been on Lower Highs since its April 25 High, indicating a potential trend change.
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