Chfjpyshort
CHFJPY all za way downWhat's up guys ,
Price approaches a resistance zone and I'm looking for major sell setups , it will be a classic entry immediately after the break of the last low and the neckline of the potential Heads and shoulders , Why I said potential is because it hasn't formed yet and I am looking forward to see it happen so it could suite my trading style and give me an edge
I can spot a divergence but don't wanna add it , so that my chart won't get too complex cause we have to keep it simple during trading
Waiting for market to show its hand
Also a cross of the MA can be used as a confluence ,those who are familiar with the ichimoku cloud could also use that
what do you guys feel ?
Bearish signal on the weekly but big move may come lateThe weekly candle on the swiss yen gave us a potential bearish signal. We expect price to continue to consolidate to the upside before giving us a big drop to the downside.
BULL CASE
Price moves to the top of the channel before dropping down farther. The price we're looking at is 126 but it may breakdown midway due to the uncertain nature in this zone.
BEAR CASE
This is unlikely but price may just collapse from here. If it does break structure our price target is 122. Remember not to fomo in and control your risk if it happens.
CHFJPYHere is the chart of CHFJPY
Last time we made 500+ pips and this time looking for one more bigger move approx 1000pips
reasons behind this trade :-
1: there is years of strong support
2: there is monthly support
3: index is going to show in weakness in upcoming days(my perspective)
4. We are going to take this trade of breakout
Thank you ❣️ peace
SHORT POSITIONCHF/JPY forecasting the rally and buying the dips at the DEMAND RECTANGLE AREA
CHFJPY is another instrument that has given us trading opportunity lately . The pair is showing impulsive sequences in the cycle from the September 20th low.
Recently this pair have been trending for the past year and some. A pull back into (118.02) we expected STRONG BUYERS.
CHFJPY Short likely• General movement of the market is bearish so bearish momentum likely to continue
• Price has formed an expanding triangle pattern on the daily chart (price has respected this line 2 times already so likely to respect it again and its on the daily chart which makes it very strong
• Price has also formed an ascending channel on the 1 hour chart which is an indicator of a reversal.
#CHFJPY SHORT TERM SELL OPPORTUNITYIn Daily time frame price is bullish without any doubt but price has reached Daily bullish channel upper boundary and we can also see standard bearish divergence in Daily time frame which gives us more confluence.
As a result of this daily bearish confirmations we saw a bearish move which you can see it in 1H time frame and as a result of this bearish move price structure has shifted to bearish in this time frame.
since then price formed a bullish corrective move which shows us no intention to upside move and for more confluence price formed a shooting star candle stick in 4H time frame and also 1H bearish engulfing candle.
For trading this pair if price failed to create HH in 1H time frame you can then execute your sell position.
Remember this trade opportunity is counter trend trading in Higher time frame and should be manage with extra care.
CHFJPY Leans DownwardsHello fellow risk-takers
CHFJPY seems to have fetched sellers' liquidity at its recent high. A bearish pressure may be expected to heavily build up from here onwards. The first conservative target 121.904 promises more than 200 pips from the current price 124.501 and the second profit target can fetch over 400 pips to 120.086. A stoploss above the recent high seems reasonable. Estimated holding period is in weeks for the potential 400-pip move.
Trade well and take care.
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*This information is presented for entertainment purposes only and shouldn't be construed as investment advice.
128 before stronger correctionWe're wrong about this pair this week, the strong bullish conviction shown at the 123.5 level is information that we cannot ignore, there should be more upside coming for this pair but we think price action will be choppy.
BULL CASE
The structure should be complete once price corrects to near the 124.0 levels and after that we are targeting 128 where a stronger resistance will be met.
BEAR CASE
Do not be surprised if we get a stronger correction before the upside comes, it is possible but unlikely that price retest 123 before the bull case is fulfilled.
Waiting for the opportunity to sell with CHFJPYH1 time frame.
Structure: The uptrend was broken after the price completed the head and shoulders pattern and broke the Key level at 123.600.
Here is the confirmation of the downtrend, waiting for the price to pull back to test the trendline and sell opportunities at 124.000.
The profit target is the price zone of 122.600.
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Wish you all have a good trading day!