The Swiss Franc has been steered by a descending channel against the Japanese Yen. The rate bounced off the upper boundary of a junior pattern and has since remained bearish.
The currency pair has breached both the weekly pivot point and the 55– hour simple moving average also where the upper border of the descending channel is located.
Given that a breakout...
The blue area has been the most significant axis of power in weekly, and now it seems the price has been pushed down by it, which indicates further selling. It would be reasonable to seek bearish opportunities in lower time frames until the next support is hit, shown in the chart.
On CHF/JPY we have a Downtrend line, with the possibility of a false breakout, because of the moving average of 200 periods above, this it'would be our entry, our stop is in 61% of the Fibonacci retracement of the bearish wave and the target is an accumulation in a important previous fund.
SHORT
ENTRY: 111.396
TARGET: 110.694
STOP: 112.128
Hello traders.
This is my 4th long trade setup idea. The first idea stopped out with 1% loss, other 2 were canceled because it made lower lows. Now, we have new on.
I have an entry order above last top with a stop loss below the last bottom. I'm trying to catch the daily up impulse. It will be a very big wave. The possible target is 123.
Hopefully, it will make a...
The pair is still bearish but expecting a correction soon. We are opening positions to sell the dip a few pips more. Long positions are also a good option. We will send an email when we confirm a trend reversal.
Hello traders.
You can see in the daily timeframe that this chart has great potential for upside and that's why I like to take long trades. Wait for a correction and take the breakout trade.
The CHFJPY has been trending very nicely since the end of January when price found resistance at the high of July 2017 just short of 119.00. Price has since fallen circa 800 pips taking price out of an area of consolidation.
I have drawn in the support zone that was acting as the base of the consolidation. In March, we have seen a classic break and retest of...
I CAN SEE A SELL OPTION HERE. JPY IS STRONG AGAINST ALL PAIRS. THE BLUE LINES REPRESENT STOP LOSS AND TAKE PROFITS. DOES ANYONE AGREE? I HAVE NOT USED ANYTHING FANCY FOR MY CONCLUSIONS HERE I MERELY USED AN OVERVIEW OF ALL MARKETS AND THE FACT THAT IT IS A DOWN TREND AND IT HAD BROKEN SUPPORT. DOES ANYONE AGREE?
Price broke its CTL to the downside & back below the zone I was watching for a validation of a possible inverse H&S pattern which did not hold, so I will be watching this pair for potential shorts back to the recent low.
Hello traders.
CHFJPY down move is completed in my opinion and we got reversal impulse, which broke the blue trendline. Now, it looks like a correction is in the making. Putting an entry order above previous top with stoploss below last bottom is my trade idea. If it makes a bigger correction something like I draw, I will take breakout trade. My target is 123.
CHART TIMEFRAME: H1
CHART PATTERNS: Support Breakout and Bullish Crab Formation
EXPLANATION: CHFJPY is testing 112.000 support. If it breaks below 112.000, Bullish Crab Harmonic Pattern would be completed at D 111.480. We may see a retracement at the D Leg.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
