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WicktatorFX
Apr 9, 2021 9:28 AM

CHFJPY - Double Topping For a 1200pip Move! 

FX:CHFJPY1W
Swiss Franc/Japanese YenFXCM

Description

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JPY is becoming bullish. CHFJPY is really close to the double top region where we can look for shorting opportunities.

See chart update below for smaller timeframe analysis.

Goodluck and Trade Safe!

Comment

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8H

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CHFJPY Update - s3.tradingview.com/snapshots/f/FloiXvBD.png
Trend AnalysisChart PatternsWave AnalysisCHFJPYchfjpyGBPJPYUSDJPYGBPCADJPYsignalEURUSD
Comments
ionu82
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you are my best indicator , thank you very much if you ever plan to be a teacher i will be your first student ::))
WicktatorFX
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@ionute82, Haha thanks Ionute! Hope you're finding these charts helpful :)
Itisallinyourhead
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This played out perfectly :). I missed the double top entry while i was at work!!!! Now i gotta deal with all the fx drama before it goes down :)
deathbed11
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so after it reach the top i will drastically drop right?
WicktatorFX
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@deathbed11, The arrow is just pointing in the direction I believe it will go. As for it being a drastic drop or not, I do not know. Maybe it will drop to its deathbed ;)
deathbed11
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@Wicktator, hahahahhahaha so how long?
chocoholicq8
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nice analysis .. will watch it
aattwood530
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GREAT WORK UP AS ALWAYS
reecardoUK
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nice charts, appreciate your hard work. Just a practical point, would you wait for the ascending wedge to be broken and enter short on a re-touch of the wedge line - or wait for the break and enter on 50% retracement of the down move? Just trying to figure out how to trade the setup - advice appreciated!
WicktatorFX
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@reecardoUK, Hey Reecardo, good question.

There are 2 types of entries. Risk entry and reduced risk entry.

For the risk entry: we’d enter on the double top.

Reduced risk: we’d wait for the ascending correction on the smaller timeframe to break with stops above the correction. Hope that helps
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