Price has been in a correction the last week. Now, pair has broken that correction level. So we can expect a bullish wave till the maximum level. **Be carefully with the next resistance of the chart**
The trade of the year continue, buying the dips in the yen pairs. It seems not to matter which one you buy or when just as long as you do not buy the yen chances are you will make money. For this sytem we have to wait for a pullback and a 3 wave pullback has developed here, entry will triggered if price moes into the blue box and stop loss will be set to allow...
Long CHFJPY: Buy the dips in the Yen pairs, the monetary policy situation in Japan means this basic strategy will continue to pay dividends. The CHFJPY has an incomplete bullish sequence meaning it is likely to push higher, the trend is clear and a potential three wave pullback is forming. I will need to see stochastics re set and price move into the buyng...
This pair is inside a short range and for me, the range is nothing but a "Bull Flag" on the Daily. Hope a massive bullish rally is waiting but for now we have a small bullish opportunity on this pair. I will wait for the price to break the pink tread-line (as shown in chart) to the upside to take a long position. My Facebook Page: web.facebook.com
Entires @ 0.382, 0.500, 0.618 retracements of previous swing high (based on risk preference) Stops @ new low + trendline break (invalidation point) Targets @ 0.500 retracement of major previous downswing There is 3 failed tests @ 0.382 before but the newest high put the setup back in to play. Exhaustation signs in the current range should be monitored closely....
A push and close above 114.061 on the daily chart would move he upper band higher, providing a new entry. The initial stop for position sizing is sitting at 111.434.
CHFJPY is still in an upwards wave. Currenctly it shows a small correction/retracement from the gap up after the french election, dont be fooled by this bear trap. Indicators show theres anough bullish strenght left. I am not suprised if it will go up till atleast 114 the next 2 weeks.
It's possible CHF/JPY may extend it's gains by 100 more pips if it holds the support level. As always, make your own analysis before investing as well as money manage properly. Happy trading! FX_IDC:CHFJPY
potential long entry either right now targeting the next resistance (channel) or wait for the retest of the trendline and then go long
Pull back from high of candle down to .786. Looking for a retrace back to the upside. Long at the .786 Fib. TP beyond high of pullback to level of structure on high time frame. SL below 110.362
CHF/JPY Daily Looks like price has been stalling around the 110.500 support level. Look for possible Reversal up to .618 Fib where there seems to be several bounces from previous resistance.
We see the price moving up to 113. We will further elaborate the idea on lower time frame charts