OANDA:CHFJPY Bullish Indications Bullish piercing candle at Major 1D Support area at 122.566, Pair has been retraced to 0.382 Fib level on 4H. Bullish Divergence is seen on 1H RSI(14). This pair has been bullish 80% of the time in month of December for last 15 years. Daily timeframe shows bearish trend, which has been supported from current price level. I am...
as the title says, an inverse shoulder head shoulder formation can occur here. Most trades this after breaking the neckline, but I think it is more interesting to grab this opportunity before with the Fibonacci level.
Like most Jpy pairs, November was a correction month also for ChfJpy(so far) and the pair dropped from its 125 recent high An H&S pattern is pretty obvious on lower time frame charts, but in my opinion, this will not pay off. A short dive under this H&S support is not out of the question, but in the medium term, my opinion is that we'll have a new leg up above 125
A wave of correction is evident in the time frame of 4 hours of positive divergence I predict the price will correct 50% of the previous fall to prepare for the fall again
The swiss yen broke down farther after breaking the channel and testing the bottom of the channel, we expect to see more downside this week. But the white line(200ma) serves as a strong support. If you're in a short take some profits at around there and re-enter again at a better price. BEAR CASE Price to go farther down to ~122.9, there we can see some support....
In this update we review price action in the CHFJPY identifying a high probability trading strategy
We have reached a strong area where I will expect to see price rally to the upside, 4H rejection candle… let’s see where we go, 1% risked
CHFJPY after making a swing high, correct itself to fib level 0.236(123.629). One can attempt to buy here Buy: 123.620 - 123.800 SL: 123.380 TP: 124.500
The weekly candle on the swiss yen gave us a potential bearish signal. We expect price to continue to consolidate to the upside before giving us a big drop to the downside. BULL CASE Price moves to the top of the channel before dropping down farther. The price we're looking at is 126 but it may breakdown midway due to the uncertain nature in this zone. BEAR...
We're wrong about this pair this week, the strong bullish conviction shown at the 123.5 level is information that we cannot ignore, there should be more upside coming for this pair but we think price action will be choppy. BULL CASE The structure should be complete once price corrects to near the 124.0 levels and after that we are targeting 128 where a stronger...
The last part of the final run before I personally look for short's. This is in the red zone for me but fully accept the 1% risk on the table if we were to go earlier, at the moment I am looking for a completion of the expanding and larger structure which is a nice 3% short term move. Positives: - Clear structure - bullish candle pattern - Clear middle section...
Hi everyone! I am looking at a support zone entry for this pair. CHFJPY BUY LIMIT @ 123.300 Stop Loss: 123.255 (Add Spread) TP 1 (1R): 123.344 (Stop Loss→Break-Even / Scale-In) TP 2 (3R): 123.432 (20%) TP 3 (5R): 123.520 (20%) TP 4 (10R): 123.741 (20%) Reason: Although i am anticipating price forming...
In this update we review the bullish sequence in CHFJPY and identify some high probability trade locations