As we can see using the Fibonacci tool, the retracement area that I am looking for is between the 382 and the 618. The risk/reward is 1 to 1 and the target is around 123.75 or the previous resistance level on the left.
Hi everybody !
It has been a while since I didn't post any idea on TradingView. I come back today with this nice buying opportunity you have on CHFJPY pair.
On january 15th, the Swiss National Bank (SNB) decided to abandon its fixed exchange rate with euro. It created a strong mess on the market and lot of traders made big losses. Now that Swiss Franc is free of...
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency.
As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
On January 6, I noted how the price action technicals were beginning to favor gold (here). Since, gold has begun to rally with force on both a global growth slowdown and increasing market turmoil. Naysayers will continue to hate gold, but both fundamentals and technicals remain supportive.
The surprising (maybe not so much) move by the Swiss National Bank to...
Similar setup to my GBPJPY trade, risk/reward looks very good in this one.
Stop one ATR over the entry, price already breached the previous highest low bouncing off a strong resistance zone.
I'll cover once price hits my targets, setting up a break even stop after hitting the first target, or reaching CCI values below -100-200.
Trade safe gents,
Ivan.
With price moving down for 4 consective weeks, I have joined in the short.
However, current price is a bit low on short,
Price seems to be currently forming a small channel.
I hope i am not shorting into support, in which I believe this support is meant to be broken in due time.
It seems to be the neckline of a large 1 yr descending triangle.
This link () shows side-by-side chart with weekly on left panel and 4-hour on the right panel. Price is moving up and through the weekly Kumo and is looking at good support here. CMO suggests 4-hour is oversold within the context of strong larger trend.
Idea is based on a combination of Elliot Wave theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with specific targets and stop loss.
This currency pair is ridden with failures as regards the bullish price action that it comes quite naturally to expect further decline and new lows. There are two overarlapping action-reaction structures in work, both of them concurring with regard to the reaction line. In other words, two balance lines and two action lines point to the same reaction line. There...
