Technical setup: Resistance + wedge
Risk management: Maximum 2%
When we reach the trendline watch to see how price reacts, if we break the trendline continue holding your position as we may see further downside.
We're expecting some downside on CHFJPY. In order to enter the trade we must first wait for a breakout of the triangle. The targets are indicated on the chart.
Make sure that you're using proper risk management and your stop loss is placed correctly.
We're seeing potential further downside on EURJPY with a handful of factors that are currently providing confluence.
We've retraced to the 61.8 fib level which coincides with our resistance fractal. This is further supported by our downward trendline and what is potentially a wedge that is forming. It is still too early to enter and we must wait for the price...
If we break this wedge on the 4h timeframe shorts will be triggered. This analysis is symbiotic with our higher timeframe outlook and may provide a longer term opportunity that will be conducive for several positions and thus a higher profitability trade.
Fundamentally this isn't the best pair to trade if equities continue to suffer but we'll listen to the...
Wait for a break and close below the neckline to enter. Tomorrow we have USD GDP at 8:30am EST so be very careful. Considering locking in your profits if before the announcement if the trade becomes active or let it run for the potential of larger gains.
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We've just broken a wedge on AUDJPY which activated shorts. With the current market sentiment this is a great pair to be short.
The targets are indicated on the analysis - it's up to you to place the proper stop loss.