An opportunity on Yen pairs, in particular CHFJPY
Market detective here,
As I have been repeating, I am convinced the whole economy is in a complete pyramid scheme.
All yen pairs are trending the same direction, chf might be a safe haven too but actually it is less influenced by scammy interventions so chfjpy might be the safest one to go for, and anyway it's not very important (the fundamental thing) it's just short term. Better go for the currencies that won't have stupid manipulations.
Trend is down, and there is no support for a LONG while with CHFJPY making it my choice currency.
Lmao lately I posgted my watchlist and it is not even in it, but when you have an idea you know, you look for the best way to express it, and I look alot at both currencies, so it isn't that crazy if once in a while I go for a pair I am not very used to.
The theory is, idk if I am being clear / making sense, we have a swing failure pattern. CHFJPY has only be going up because USDJPY has. 0 logical reason.
There were some good news about the trade war (zzz) and some big vertical candles. Those get traders very excited.
Buyers were waiting for a new high to fomo in massively, but the price is not going up. Looks like all they did was provide liquidity to institutions (+ shorts SL above swing high).
And now, potentially, all of these eager buyers are trapped, well will be IF it drops.
* Institutions are not only taking short positions (if they even are), but also they need alot of suckers to sell to, to close their longs they opened as the pyramid scheme master (Trump) said "now price go up".
Ye price pulled back, but I think there were still some bags to unload. Distribution time.
I am not big on indicators, but geeeeeee come on, here the price has repeatedly hit on the MA 100 door, over, and over, and over again, and falling afterwards.
Probably big odds of going down, not much reason to go up, AND if it goes down, there is no ground to catch the price until very far away (with chfjpy).
Worth a shot.
As I have been repeating, I am convinced the whole economy is in a complete pyramid scheme.
All yen pairs are trending the same direction, chf might be a safe haven too but actually it is less influenced by scammy interventions so chfjpy might be the safest one to go for, and anyway it's not very important (the fundamental thing) it's just short term. Better go for the currencies that won't have stupid manipulations.
Trend is down, and there is no support for a LONG while with CHFJPY making it my choice currency.
Lmao lately I posgted my watchlist and it is not even in it, but when you have an idea you know, you look for the best way to express it, and I look alot at both currencies, so it isn't that crazy if once in a while I go for a pair I am not very used to.
The theory is, idk if I am being clear / making sense, we have a swing failure pattern. CHFJPY has only be going up because USDJPY has. 0 logical reason.
There were some good news about the trade war (zzz) and some big vertical candles. Those get traders very excited.
Buyers were waiting for a new high to fomo in massively, but the price is not going up. Looks like all they did was provide liquidity to institutions (+ shorts SL above swing high).
And now, potentially, all of these eager buyers are trapped, well will be IF it drops.
* Institutions are not only taking short positions (if they even are), but also they need alot of suckers to sell to, to close their longs they opened as the pyramid scheme master (Trump) said "now price go up".
Ye price pulled back, but I think there were still some bags to unload. Distribution time.
I am not big on indicators, but geeeeeee come on, here the price has repeatedly hit on the MA 100 door, over, and over, and over again, and falling afterwards.
Probably big odds of going down, not much reason to go up, AND if it goes down, there is no ground to catch the price until very far away (with chfjpy).
Worth a shot.
Trade active:
It's really all looking pretty similar...
Comment:
:)
It may go back up, but odds are much more in our favor now :)
Nice bullish falling wedge, nice mecanical trading.
Right now, if you listen closely you can hear hundreds of angry bulls smash their fist on their table and yell "TECHNICAL ANALYSIS IS A SCAM AND DOES NOT WORK".
TA is to traders what forensics is to detectives. Or a lie detector chart, ye maybe that's more accurate.
And traders are to markets what detectives are to crime investigations.
In other words, traders are detectives. Central bank did it, lock them up officer.
It may go back up, but odds are much more in our favor now :)
Nice bullish falling wedge, nice mecanical trading.
Right now, if you listen closely you can hear hundreds of angry bulls smash their fist on their table and yell "TECHNICAL ANALYSIS IS A SCAM AND DOES NOT WORK".
TA is to traders what forensics is to detectives. Or a lie detector chart, ye maybe that's more accurate.
And traders are to markets what detectives are to crime investigations.
In other words, traders are detectives. Central bank did it, lock them up officer.
Comment:
Has to break either way, any time now...
Comment:
There are no important events,
For JPY there is nothing until the 31 october...
For CHF until mid december.
USDJPY dropping, EURJPY and CHFJPY are violently moving back and forth.
This has to be institutions hunting retail to get filled...
It looks so ridiculous and makes no sense...
For JPY there is nothing until the 31 october...
For CHF until mid december.
USDJPY dropping, EURJPY and CHFJPY are violently moving back and forth.
This has to be institutions hunting retail to get filled...
It looks so ridiculous and makes no sense...
Trade closed: stop reached
The price also on the daily barely closed above the previous line.
Lots of buyers accumulating.
If it goes up then so be it, small loss.
But oh my, if it drops, all of these accumulating buyers are going to have to vomit everything, and remember "markets will continue going in a direction until an opposite force is applied" so unless there is a surprise CB thing, there is no serious opposite force till very far below:
A recipe for disaster for the bulls.