CHFJPY Multi-timeframe Analysis & Trade Idea
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We can see on the COT - Commitment of Traders, which is what Hedge funds and the non commercials so the biggest in the market are doing. Where we can see that CHF's net positions have been decreasing, where we went from having positive 9,678 net positions to down to minus -17,584 we can see that in CHF is weak, but JPY is weaker from minus -55,190 to minus -102,734, where there has been a lot of shorts being added, we can see that JPY is weaker, hence we are looking for a SELL to BUY trade.
We also have a W formation on the Monthly & Weekly where we have 2 sets of trades as seen below. We are looking into a neckline retracement before the move to the upside.
Sell is from the M pattern entry on the daily and the correction Buy on the Monthly & Weekly.
All entries are on the break and retest of the structure.
Trade Signals
SELL 1
Entry: 124.338
Take Profit: 119.850
Stop Loss: 124.808
SELL 2
Entry: 124.338
Take Profit: 121.194
Stop Loss: 124.808
BUY 1 (Weekly W Pattern - Neckline reversal)
Entry: 119.861
Take Profit: 127.331
Stop Loss: 118.564
BUY 2 (Monthly W Pattern - Neckline reversal)
Entry: 121.193
Take Profit: 127.087
Stop Loss: 119.458
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
We can see on the COT - Commitment of Traders, which is what Hedge funds and the non commercials so the biggest in the market are doing. Where we can see that CHF's net positions have been decreasing, where we went from having positive 9,678 net positions to down to minus -17,584 we can see that in CHF is weak, but JPY is weaker from minus -55,190 to minus -102,734, where there has been a lot of shorts being added, we can see that JPY is weaker, hence we are looking for a SELL to BUY trade.
We also have a W formation on the Monthly & Weekly where we have 2 sets of trades as seen below. We are looking into a neckline retracement before the move to the upside.
Sell is from the M pattern entry on the daily and the correction Buy on the Monthly & Weekly.
All entries are on the break and retest of the structure.
Trade Signals
SELL 1
Entry: 124.338
Take Profit: 119.850
Stop Loss: 124.808
SELL 2
Entry: 124.338
Take Profit: 121.194
Stop Loss: 124.808
BUY 1 (Weekly W Pattern - Neckline reversal)
Entry: 119.861
Take Profit: 127.331
Stop Loss: 118.564
BUY 2 (Monthly W Pattern - Neckline reversal)
Entry: 121.193
Take Profit: 127.087
Stop Loss: 119.458
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
Trade active
Comment:
Sells are currently running in profit and is 140+ pips.
