CHFJPY technicaly based forecast
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💡 CHFJPY technicaly based idea, we can see price is bounce from up trend line, candels foramtion is good bearish, technicaly indicators showing we can expect higher push down in price, expecting to see push down in price till bottom trend line.
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Chfjpysetup
SWISS FRANC / JAPANESE YEN (CHFJPY) MonthlyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
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 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 Elliot Wave Trade Idea In the CHFJPY chart above, price is making a bearish (a)-(b)-(c) corrective pattern after the completion of a bullish five-wave impulse.
The corrective pattern will most likely unfold as a zigzag based on the current structure of the decline. I'm expecting a sell-off in wave v to complete five-wave impulse in (a), followed by a corrective pattern in (b), then I will look to go short wave (c).
I'm anticipating wave (a) to terminate at the ascending trendline support, so I will take a short-term sell entry at the market open.
Here is my previous analysis on CHFJPY:
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 Possible H&S Formation Hi Traders, here is the full analysis / Breakdown for CHFJPY.
Keep this pair on your watch-list.
Possible H&S Forming on the Daily / 4 Hour Time-frame!
Conditions -
1. Wait for confirmation ( Environment Change / Retest Of Previous Structure )
2.Use Risk Management ( Risk 1% of your capital )
3. Do your Own analysis!
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Global Fx Education Team
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 .