CHFJPY | Testing ResistanceCHFJPY is approaching to important resistance area. Will it break this time?
It failed to break since 18th January early this year and price are constantly testing it. Only if it manages to break then one can enter long in here otherwise rejection candle will be enough to open short position.
Trade your levels accordingly.
Chfjpylong
CHFJPY developing H&S, looking for a SELLHI Traders,
CHFJPY has been moving within a HTF channel which price had a Reversal Impulse off the top boundary creating a right shoulder correction to give us more bearish price action.
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CHFJPY | Uptrend Continue?
CHFJPY is trading in strong bullish trend, making higher highs and higher lows. The current price is standing at good support levels. We are expecting bulls will once again push the price to atleast 125.500
To negate view, the bears should takeout the rising trendline and price will falls sharply.
Trade your levels accordingly.
CHFJPY BULL'S ARE IN CONTROLL! {10/02/2022}Educational Analysis says CHFJPY may go LONG. According to my technical.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
Why long?
On 4HR AND 1HR timeframe pair is making HIGHER HIGH AND HIGHER LOWS.
I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS
HOW TO TAKE ENTRY ON THIS?
On 15 min timeframe, pair broke the small trendline and price push towards also pair is making higher high and higher lows, confirmation also broken the previous resistance.
ENTRY :- 125.162
STOP LOSS:- 124.890
TAKE PROFIT :- 125.590
Make x2 with CHFJPY!!!Amazing set up for a clearly swing transaction,if we zoom out on the daily timeframe we can see how price has been forming bullish impulses and creating corrections on previous structures, so here we can see how a flag pattern has been broken and a new HH has been created after breaking the inner structure in the 1h timeframe
CHFJPY | New UpdateCHFJPY as per our call tested the support and has given breakout from the falling trendline.
We are expecting bulls to be active and push the price to new highs.
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CHFJPY longAs we can see OANDA:CHFJPY daily chart, within coming week price going to test major level. This area can be a support level & also can be a resistance level. But we know price sitting long term bullish trend. So in this area, my more favor to act this level as a major support level. lower time frame im looking for behaver shift bearish to bullish with some nice #bullish engulf bar / pin bar or morning star pattern.
CHFJPY Long OpportunityHere is my analysis for CHFJPY for the upcoming week, wait for price to pullback to retest SUPPORT and take a long up to the next resistance area where we can expect a sell.
What are your thoughts? Leave it in the comments below!
Blue Signal FX Rules-Based Trading
1. CHECK THE NEWS!
2. WHAT IS THE OVERALL TREND?
3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE.
6. CHECK FOR DIVERGENCE.
Trading Idea Regarding CHFJPYRight Now this Currency Pair is in Neutral Phase
1- It is making Cup & Handle Chart Pattern on Daily Time Frame Indicating its Bullish Behavior
2-It is Moving in Parallel Channel Chart Pattern on Daily Time Frame and Right Now heading towards bottom of the channel indicating Bearish Behavior
3- When Considering Fibo Levels after breaking 38.2 % Fibo Level Price touches top of the parallel channel and came back down and start moving around 23.6 level So, there are two possibilities at this point either it bounce back and continue moving up or it will came down to retest 38.2 fibo level
4- It is making Symmetrical Triangle Chart Pattern on 4 Hour Time Frame also indicating possibilities of moving in either direction
Note:
If this pair break above Symmetrical Triangle Chart Pattern it is also possible price plunge down from 126.226 level to 38.2 fibo level which is also bottom of parallel channel by fallowing Quasimodo chart pattern
💡Don't miss the great buy opportunity in CHFJPYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (125.13).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CHFJPY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 60.
Take Profits:
TP1= @ 125.67
TP2= @ 126.00
TP3= @ 126.31
TP4= @ 126.70
TP5= @ 127.07
SL= Break below S2
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💡Don't miss the great buy opportunity in CHFJPYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (125.13).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CHFJPY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 59.
Take Profits:
TP1= @ 125.67
TP2= @ 126.00
TP3= @ 126.31
TP4= @ 126.70
TP5= @ 127.07
SL= Break below S2
❤️ 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 ❤️