Chfjpyshort
CHF/JPY approaching resistance zone💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
I will really appreciate any likes and follows, that would help grow this channel.
CHF/JPY has is approaching resistance zone. Price has been rejected from this area serval times in past. We will closely monitor this pair to see if price will be rejected again.
Let us know what you think about this idea.
Trade safe !
7 reasons to short CHFJPY ... but nothing is 100% in trading.
1. On the daily chart, note at least 4 recent attempts to go above 114.600.. all failed. In fact you would need to go back to Oct 2018 to see higher price.
Now on the H4 chart:
2. Price moving perfectly within a descending channel.
3. A sequence of lower highs and lower lows has been forming over the last 7 trading days, while price has respected the channel all the time.
4. Price is now at a significant level 114.000 and you can clearly see indecision after a bullish move.
5. For the channel to be respected again, a down move must follow.
6. If you have a bearish bias, taking a short at the top of a channel is the ideal location.
7. R/R of 5 or more is on offer, if this trade works out.
If you like my analysis, please give it a "thumbs up" and follow me to get immediate notification of my trade ideas and updates.
As always, please use sound risk and money management in all your trades.
CHFJPY BIG SHORT INCOMING?!ENG
- Price reaching our FIB reversal area, having the ex-supportive trendline as an extra resistance, we are expecting a reversal from this area, however, if we get a break we will be looking for an entry at our HH.
PT
- Preço a alcançar a nossa zona do FIB à qual achamos promissora para um reversal, tendo também a nossa ex-supportive trendline a ajudar como uma resistencia extra, estamos à espera de um reversal nesta area mas em caso de quebra, iríamos procurar nova entrada no HH atual.
CHFJPY, 4-hour timeframe, double top patternBased on the 4hr chart we could see there is a potential double top pattern on this pair.
Previously this pair moving up inside a neat uptrend channel. During the last 3 trading days starting from thursday, friday, and monday, price managed to move below the channel and probably gonna make a lower high.
Currently price hovering around 114.30-114.35 area which is the 78.6 fibonacci retracement from the recent drop
Sell CHFJPY 114.30-35
Stop loss 114.80
Take profit 1 @113.35
Take profit 2 @112.20
good luck
CHFJPY 113.969 + 0.33 % SHORT IDEAGood Day Everyone
A look at the CHFJPY seems like we are currently confirming a reversal on the patterns the pair has been net long in the last couple of weeks last week we saw that breakout of an ascending channel and looks like we are currently on the verge of retesting that structure before confirming the reversal to the downside looking for shorts on the pair, looking to see how far up can it push before continuation to the down side lets see how it goes...
Good luck and happy trading everyone
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT