I called this earlier on my free telegram, currently up 90+ pips. Approaching a critical zone, 75% of our profits have been taken with stops moved into profit. Reaction at this zone would warrant further entries for people who are and aren't in the trade.
CHFJPY is on the resistance level (118.250), no significant fundamental news for CHFJPY this week means it could be a safety trade for the week. 4hr candle also showing bearish engulfing might be a signal to enter short. Stop Loss just above the highest wick. TP1 to 117.600.
double top has been formed on the lower time-frame and overall momentum of pair has been showing bearish movements with a reversal rising wedge being shown on higher timeframes.
Double top to Weekly resistance / shooting star rejection. Will be watching for a break of my higher time frame counter trend line for entry..
With CHF/JPY coming near fresh yearly highs after such a strong multi week push, its do for a reversal at the 118-119 zone. For the pattern traders we can see CHF/JPY presenting a huge ascending triangle for bullish long term momentum, in the mean time im looking to go short in expectations of price going back into consolidation. . If you take the time to zoom in...
Target this morning missed take profit by 17 pips, but as you can see price broke above resistance now looking to potentially enter on the retest of broken resistance now support.
CHF/JPY is looking to complete a five wave structure and should be correcting back downward with an ABCD wave formation. There is a resistance zone on a daily and it is backed up by the 1.618 fib level.
Watch for a break of the Ctl for potential longs for a new potential higher high
strong bullish close has broken the resistance level at 116.2. our next target is 118, 140 pips from current level
CHFJPY 4H SHORT Possible Sea Pony Pattern
Retested the resistance, might go for to retest the support before flying high.
CHFJPY has entered into the SELL zone between 116.7 - 116.4 area this pair has been trading the range between 112.6 to 116.4 since September. Like previous trades on this pair, we are looking to trade this range again. SL - 116.5 TP - 114.9 TP2 - 114
This pair has fallen down into the cloud and I am waiting for a breakout back up and out of it to look for an entry. I am targeting the top of the bullish cloud as my target. If our bullish confirmaitons end and switch to bearish, it will invalidate this setup