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CHFJPY: HTF Rising wedge for a potential REVERSE!Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CHFJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. Higher timeframe: Lower timeframe: Since March 2022, this market has been moving inside a rising wedge, breaking out an interesting swing at around 140.000. Although the third touch of the top of the main structure, in LTF it’s still moving with a price action slightly bullish. When, where and why would we step into the market? For a better entry point and RR, we would be waiting for the price to reach the LTF swing high and see the further price action, how the price will react and/or if it will break or reverse. At the moment, not so many bearish confluences to enter a position, but we are gonna keep this market in watchlist to study its next movement. If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias! Sincerely, Cybernetics Trading Lab
Short
by Cybernetics_tl
22
AUDCHF: Double bottom and potential Market Reverse! Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the AUDCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. Higher timeframe: Lower timeframe: Since the end of 2020 and the beginning of 2021, the market after an initial strong bullish impulse, clearly visible in high timeframe, it started consolidating in a big expanding structure, which usually is both a bearish and a bullish pattern, depending on how the market breaks and eventually develop. During the last year, we can see how the price has been following a clear descending channel and currently broke a really strong and interesting support level at around 0.63790. In lower timeframe, structure within structure and few more bullish confluences could be a sign of a potential market reversal, which is our bias, considering the overall strong bullish impulse that preceded the HTF structure. When, where and why would we step into the market? Right now, the market is still developing price action and a long position with no a clear confirmation, could be risky and it could lead to many different losses in order to catch the right signal. A breakout to the upside of the minor structure inside the descending channel, it may be a first possible entry for a long position, eventually the RR is in your favor, otherwise, conservative traders could catch an interesting bullish movement after the breakout of the channel, targeting the top of the HTF structure. If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias! Sincerely, Cybernetics Trading Lab DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose.
Long
by Cybernetics_tl
2
AUDJPY: Potential BEARISH Continuation!Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the AUDJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. Higher timeframe: Lower timeframe: In HTF, this market reached its previous swing, clearly forming a double top, approaching on it with a corrective movement, which we can see better with a quick look on the lower timeframe, where the market formed a rising wedge just around the area of its previous swing. More bearish confluences are still in line with our overall bias, a reversal sharp bearish impulse proceeded to break the structure to the downside, and the first correction after breakout was an interesting bearish opportunity! When, where and why would we step into the market? AUDJPY is currently creating a potential more continuation, the next week will be interesting to see how it will develop and if it will give us a deeper correction enough for another push to the downside. If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias! Sincerely, Cybernetics Trading Lab DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose.
Short
by Cybernetics_tl