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it is not so perfect because C point don't reach 61,8
CHFJPY is in the area where a possible breakout to the upside will come, if it comes it will present an opportunity to go long short term.
Three drives pattern completion at previous structure level.
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 think that the trend continues towards point 5 and then follow the abc wave.
yen seems to be weaking, while do cross pair analysis, many xxxjpy has reached the demand level.
Expecting further downside in the pair and short opportunity once price breaks below the structure shown in the chart. Breakout we will see probably very soon and is going to be huge in my view.
The descending triangle pattern on H4 chart of CHF/JPY provides an opportunity for a bearish breakout. The pattern's borders are marked with the yellow lines. My potential entry level - the cyan line. My potential exit level - the green line. Stop-loss is to be set to the low of the breakout bar (not shown). More information, chart template, and free EA to...
A descending triangle has just formed hinting for a continuation of that bearish trend. According to fundamentals the swiss franc is facing a very weak period with surprisingly low retail sales data, compared to japanese yen benefiting from a positive balance of payments. Price should target the first meaningful support level around 115.50.
I'm shorting this pair with first target at 115.65
SL @123.20 EP @122.70 TP @120.00 RRR: 5.4 Risk: (50 Pips) Reward: (270 Pips)
CHFJPY SHORT BREAKOUT then possibly a reversal
Here is a corrective structure that could be called a bull flag, This bull flag could be over, or not, thats why i have 2 alternatives, the channel, and the line. So there is a possibility of price going down to the channel for wave c. In any case, i will be interested in buying only when it breaks out of this channel, or goes beyond the end of wave B