Ammm About this i can say that put less amount on this quite streched mputh like a crocodile i am just expecting few 100 pips drop on this.chfjpy
Reasons To Short:
Upward Channel (i know not that perfect but showing bearish VOLUME @ Traders action zone)
This is impulse Correction After Previous Impulse U Require To Trade The Next Impulse
Put Less Amount here...
FX:CHFJPY
Sell the breakout, buy the patterns.
Broken Structure;
Nice cluster below the 127% extension:
61.8% of XC;
141% ext. ab;
161% ext. bc;
This will complete an ab=cd pattern.
Safe Trades;
FX:CHFJPY
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe Trades;
open.spotify.com
Currency on channel... wathing close!!!
If this analysis makes sense to you give me a like and share with your friends. Thank you and good trades !!!
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style....
Buyers have tried to break the trendline 3 times but still couldn't . Wait for proper confirmation...If buyer still could not break above the channel then look for SHORT opportunity up to 111.46...A retest of that strong level.
Reasons to go short -
Overall trend is bearish
Pulling back into a strong SR level (thin blue line)
Last time it was at this level there was a strong sell off, the price is now coming back to test this area (yellow box) for the first time
Yellow box is also a combination of fib levels from previous highs
Good risk to reward
I know CHFJPY is not a common pair but I can not leave it when I get a signals. Right now the market is on the resistance. On one hour time frame, the market formed a doji. It is having difficult in crossing that level. There is a high possibility the market will reverse and continue with downtrend. I will hold a little and watch how the volumes will appear and...
I have already entered this trade but I still think there is time. This year the SNB are going to be actively trying to weaken their curreny and the China slump will cause safe heaven flows through the JPY so overall downside is expected. Learn to trade like a pro boafx.com
I have been closely monitoring CHF pairs and this one looks the most poised for a breakout reversal of the weakening CHF. Its a big resistance line that is just waiting to be broken but we can keep scalping the downside until that does happen.
Loosen that stop if we think downside is more likely.
