This pair has been taking too much of my time! Its been consolidating for the past day. I will try a short once again after being stopped out for the second time!
I expect price to close above the moving average for he month of September. I'll be looking for bull signals on the daily time frame. Entries will have a stop loss but no take profit targets. Trades will be closed when monthly candle finishes painting.
We've identified an accurate bullish butterfly pattern on the 30 minute timeframe for the CHF/JPY currency pair, just for all of you who love trading harmonic patterns! We'll also be publishing this to the stream on our site.
on the daily look's like we have a head and shoulders formation. looks like the right shoulder faze about to happen
Exotics!! Pair is strong sell right now. We can see a head and shoulders forming. The yellow boxes is a repeat of the previous left shoulder and I am seeing a repeat.
If current candle closes as such then breakout will be confirmed. Looking for a re-test of the structure and a bounce for a bullish entry signal.
Looks like this pair could come down and test a Major Support Level @112.500 (last touched June 14 2017). Not only is this a Major Support Level but it is also a Psychological Level . We also have some Confluence with the 1.414 Extension as well. R:R 1.65 and 2.57
Long CHFJPY @ 113.44; TP 115.87, SL your choice
Overall setup looking at shorting CHFJPY as a swing trade, drop down to the hourly chart and you can see a clean 1000 weighted moving average bounce. This bounce indicated a rejection of prices that low; i am expecting it to retest this range structure. If structure is broken to the topside it will be an excellent long opportunity and if structure is not broken...
I hope you boys like this. We have seen a lower low on the 4hr and now a bullish flag. Going to use the elliot for a good RR ratio with 2 positions. 115 seems to be a comfortable number for wave 3 on this pair which is also 1.618 of the first wave down. Final wave also seems to be another solid horizontal key number which tends to be 2.618. Stop loss will...
Short CHFJPY @ 118.31; TP @ 115.936, SL your choice
CHFJPY has formed a significant bearish engulfing on the weekly timeframe. Strong Bollinger Band outbreak also confirms this setup. SL set above previous highs, TP at the strong support level as marked.
Short CHFJPY @ 116.10; TP @ 113.80, SL your choice
A lot of room to run and trend bullish here. The breakout here happened in an ideal way. A minor pullback near to the 115 level would be excellent for an even better entry, but such a move is not guaranteed. Long term trade here but definitely worth it for the potential