Chfjpysell
CHFJPY Pattern Sets a Stage for a CorrectionThe daily chart above reveals CHFJPY's entire progress since October 2019 low. It looks like the past 4 months have resulted in a textbook five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v) and the five sub-waves of wave (iii) are also visible. Look how the entire structure fits into a base channel. The guideline of alternation has been taken into account, too. Wave (ii) is a complex correction, while wave (iv) is a sharp zigzag.
This pattern means CHFJPY’s larger trend points north. The problem is that according to the theory, a three-wave correction in the opposite direction follows every impulse.
If this count is correct, we can expect a notable decline in CHFJPY very soon. The support area of wave (iv) that lined up with support zone and mean value is a natural bearish target.
What's your view on CHFJPY?
CHFJPY: Countertrend Sell based on RSI Divergence and Resistance112.60 zone has offered some resistance in the recent days.
In addition to this, there is also some bearish divergence in the RSI.
If this zone continues to offer resistance, we can execute low-risk sell trades at 112.68-112.85.
TP can be set at 112.10 and 111.70. Stop Losses can be placed above 113
volume is thinning out as the holiday season closely approachesinvestors’ focus on the risk of a slowing global economy, a sharp rally in the yen — a traditional haven currency — would make some sense to opening low risk short position from here, Also current administration’s strategy to use tariffs as threats to mold his foreign-policy against multiple countries will create an ongoing and unknown certainty .
CHFJPY LATEST UPDATE.In the name of Allah, the Most Gracious, the Most Merciful.
CHFJPY LATEST UPDATE.
IT IS HIGHLY RECOMMENDED TO FOLLOW RISK MANAGEMENT STRATEGY.
USE TP AS PATTERN.
HOW TO TRADE ON OUR SIGNALS.
We Explain above you use that lot size whatever Capital you have.
Let say, for example, you have 4000 Dollars Capital.
We Posted Trade which has 4 Take Profit.
We will use 0.20 Total lot size We will divide it
in 4 Orders.
0.20 lot Divided by 4 Take profit = 0.05 Lot size.
So we will open 4 Trade with 0.05 Lot size for each trade.
Let See How We will do.
1st Trade 0.05 Lot: Stop loss Same >> Take profit will set to First target.
2nd Trade 0.05 Lot: Stop loss Same >> Take profit will set to Second target.
3rd Trade 0.05 Lot: Stop loss Same >> Take profit will set to the Third target.
4th Trade 0.05 Lot: Stop loss Same >> Take profit will set to the fourth target.
Let Say Our First Target Hitted Then you need to Move All Remaining Trade stop loss to Entry.
If Our Second Target Hitted Then You Need to move All Remaining Trade stop loss to First Target.
If our Third Target Hitted then You need to move All Remaining Trade stop loss to Second Target and So On.
Note: This is only for Educational Purpose this is not Investment advice.
Thanks
Adil Khan.