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Chfjpyanalysis

CHFJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CHFJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > Market reached monthly resistance which is also a major structural level (last touch was in Sept 2018) that has pushed price to the downside on each occasion. Hence we can expect a drop. W > Price dropped to complete W formation and continued further till demand zone coinciding with 0.5 Fib level on last monthly bullish impulse. Price reversed to move up till 0.618 Fib level on last weekly bearish impulse and reversed again to the downside. D > We saw an M formation and price moved up to test the neck and complete formation. We expected price to drop but it continued to rise up and faced rejection at daily supply zone. As per COT CHF saw closure of few Long and addition of Short positions, reducing net positions whereas N-R saw addition of both Long and Short positions increasing cumulative net positions. SXY further improved its position during the said week. However SXY weakened last week. JPY saw addition of few Long but more Short positions reducing net positions further. JXY lost its position for the said week but ended with a Doji. However JXY improved its position last week but again ended with a Doji. 4H > After drop price is stuck at demand zone it created during its last bullish move. We expect a break to the down side to test weekly demand zone. However we also have an upward support trend-line to consider where price can reverse. Pair Correlation > CHFJPY has positive correlation with EURUSD and EURJPY and negative correlation with USDCHF. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
CHFJPY | PERSPECTIVE FOR THE NEW WEEKCHFJPY price made a strong bearish move rejecting a Key zone around Y116.000 to propose a possible ABCD pattern in the future. Tendency: Downtrend ( Bearish ) Structure: Retracement | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Inability of Price to break above Y117.500 in Aug & Sep 2020 has led to a Reversal pattern that points down. ii. ABCD pattern is sighted with parameters explained below; a. Impulse A-to-B will be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 350pips. Risk/Reward: 1:4 Potential Duration: 10 to 20 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
CHFJPY SWING TRADE 12-OCT-2020Good day friends. Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday CHFJPY-Technical analysis ⚡️price is well below the 116.00 and key resistance level ⚡️Rising wedge formation is about to end which is a clear sign of Bearish trend ⚡️Swing target would be 114.400 ⚡️115.00 Area will act as barrier for bear ⚡️CHFPY has reached the upper side of the Bollinger bands SWING TRADE -CHFJPY Sell @ 115.850 Take profit @ 114.420 Stop lose @ 116.370 140 Pips target Don't risk more than 1% of your capital
Long
by forexorbit
CHFJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CHFJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market reached monthly resistance and after rejection started downward move. W > Price dropped to complete W formation and continued further till demand zone before reversal. D > We saw an M formation and price moved up to test the neck and complete formation. We now expect price to drop and test weekly demand zone. As per COT CHF saw closure of Long and addition of few Short positions reducing net positions. SXY was very weak for the said week. SXY was strong last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week. 4H > Price is making HH, we will have to wait for price reversal for Short entry. Pair Correlation > CHFJPY has positive correlation with EURJPY and negative correlation with USDCHF. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
3
CHFJPY long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6