Chfjpyanalysis
CHFJPYCHFJPY
For the past one month CHFJPY pair is trading in a narrow range of around 100 pips
We can expect the breakout as its further narrowing the channel
Suitable short positions may open at this level 112.500 which is also a 23.6% Fibonacci
And the potential take profit will be 110.500
Stop lose may placed above the top side resistance level which is 113.050
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CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 110.666 where it could potentially react and bounce to its resistance at 1st resistance at 111.645.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
CHFJPY long, bullish setup with 2 scenarios!Plan : resistance level or structure breakout --> wait for 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 like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 112.128 where it could potentially react and bounce to its resistance at 1st resistance at 113.018.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
CHFJPY short trade ideaPlan : wait for price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar etc --> SELL
**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 like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
Time to short after a huge upwards rally?I rode the uptrend of this pair from the previous support of 111.843, and sold it at the doji at the top. The next session forms a 'dark cloud cover' which signals a bearish reversal. The following dojis suggest unclear signals, hence i waited for a confirm of a bearish reversal. MACD is also showing signs of slowing momentum and a potential crossover. Stochastic also shows that this pair is overbought, and may drop is price soon. One may wait for confirmation from the crossover of the MACD, but the current red candle is sufficient to tell that sentiments are bearish right now. While this is a potential trading setup, it is possible that this is just a small pull back before reaching for higher highs.
To optimize your entry points, use the 1 hour chart to check for pull backs to prevent unfavorable entries.