CHF/JPY - Short
Hit a nice support and resistance area.
Hit my third TP on the previous idea LONG i had for this pair.
Now i am looking to catch the move back down.
Any questions drop me a message or a comment
Price looking likely to form a falling wedge pattern on the daily timeframe although we can expect one more push to the downside before we see any signs of a breakout. simple correction play where our potential entry could be, which is a lot clearer on the 4hr & 1hr timeframes.
Here we can see heavy resistance around the 110.400 region. I personally entered short positions on this after seeing the exhaustion presented to us on the H1 time frame around 7pm - 1am here in London. A much safer entrance would have been at the closure of 2am H4 candle as you may notice the shooting star formation emerging. With my riskier entry I did however...
Simple setup, waiting for reaction off trendlines + fib + price action to sell!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!...
The CHFJPY has broken below the area of support and is looking towards the downside. The area of support (now turned resistance) area has already been tested once so there is a possibility that this area can be tested again. However, for the long term i think the price will fall slightly before starting to consolidate. I wouldn't trade this position right now as i...
The market currently broke out of an ascending triangle after forming a Head & Shoulder driving market to break the trendline. The market had its first Impulse move with the break of the trendline and currently just concluded its exhaustion as the second impulse move is creeping in to start the big bearish move. JPY is on a ride and gaining against major, minors...