- Price is at the bottom of the range on the weekly - upward bias
- Price is forming a symmetrical triangle pattern on the D1
- The blue area is a historic S/R
- RSI on the H4 is in oversold territory
Wait for price action to go long
CHFJPY is approaching our first support at 110.33 (horizontal overlap support, 61.8% fiboancci extension, 78.6% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 110.89 (61.8% fiboancci extension, 50% fibonacci retracement).
Stochastic is approaching support as well.
Trading CFDs on margin...
CHFJPY long intraday trade setup 1H based on green volume dominating higher time frames, trend to upside on HTF also. Currency impulse (bot left) favoring CHF strength with the crossover and price action positioned above the trend cloud 4H and 1H with strong green support under (dots). This is an intraday only as price is respecting the HTF resistance where Im...
TSI-W: Bull with signal 2 days
TSI-D: bull bias
10/5: change over no cross
Weekly: below weekly open
Daily: above daily open
SuperG:bear bias with SG, SM ULT bull bias
EMA: below 200, this bar crossunder 40, just above 20
CHFJPY is approaching our first support 110.43 (Horizontal overlap support, 23.6% fiboancci retracement, 100% fibonacci extension) and a strong bounce might occur pushing price up to our major resistance at 110.76 (76.4% Fibonacci retracement).
Stochastic (21, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off...
We can see from our support and resistance zones that price has been respecting these levels for a while and price is once again currently in our resistance zone, but this time we can see price breaking this resistance and moving higher to the upside because of recent bullish candles coming into this zone.
If we take a look at the monthly chart you can see plenty...
CHFJPY is approaching our first resistance at 110.34 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 109.77 (61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding...
CHFJPY long swing trade setup based on bullish pressure evident in the long candle wicks on the 1W, green volume and move to upside on the 1D, higher highs (closes) and higher lows on 4H, and pullback to .618 fib level entry zone on the 1H. Not financial advice.