Seems like bulls can't break through this resistance level and has made multiple tops as a result. The bullish momentum from which this came from has been made too intensely and the bulls seem exhausted (or some may already be taking profits at this level) as shown by the decreasing volume.
Several reversal candle signals are visible such as the Bearish...
Chfjpy trading around 117.15 seems near
double top and RSI also seems over bought
as drop is expecting if hold below 118.5
advice to sell in range of 117.2-117.9 SL 118.5
TP 115-112
Hi everyone. Similar to other JPY pairs, I am looking to short CHFJPY base on that reversal pattern (rising wedge). Trend continuation pattern is about to complete soon, so watch for breakout for further downside.
I will update the lower time frame.
It seems that the chfjpy is going to make the new LL , and if the price reach in the Fibonacci level 61.8 - 50 % and the body candle close below the 50% then you can put enter sell position and try to take profit around 112.586 .
Don't forget to follow the money management for your trading account! happy trade.
There is a setup on the daily charts for CHFJPY that I've been following for the past two weeks now. Basically, we can see a very nice market top reversal at a significant previous swing high and resistance level. If the current daily bar manages to break and close at or below the 113.000 level, I believe a further move to the downside is likely.
This is a prime...
I am waiting for the price to breakout of the upward channel (H1) and that will confirm a reversal on this pair. Another interesting part is that if the price pushes higher to the resistance (around the grey rectangle by the trendline drawn from the high of Jan, 2015), I will enter the trade from that area, keeping my SL at 50 pips. And the price would be forming...
Hi guys,
after a dead calm Monday, we're now ready for the intense week ahead. Here's what i'm going to look attentively over the next week, very nice setup on the daily chart. RSI Divergence, with an Engulfing and a psychological number at a previous Structure level. This could be a reversal: bus as you may know from my previous analysis, i usually get my entries...
Hi guys,
after a dead calm Monday, we're now ready for the intense week ahead. Here's what i'm going to look attentively over the next week, very nice setup on the daily chart. RSI Divergence, with an Engulfing and a psychological number at a previous Structure level. This could be a reversal: bus as you may know from my previous analysis, i usually get my entries...
Chfjpy trading around 114.05 level Where Weekly
strong supply zone is above 115. till its hold below
115.5 a drop expected toward 110-111 level
Sell advice in range of 114-114.8 sl 115.7 TP 111
We're coming up to a pretty heavy resistance area for the CHFJPY pair. - This is going to be a good area to watch, and if it doesn't break above this area I'll be looking to put in a sell - (red line at the top resistance you can see going back a few months - it's retesting now)
Just spotted this shark pattern, trade is still valid as price is still within PRZ.
I would have shorted at RSI divergence where price was at 114.
R:R at 1.1 (TP1 @ 0.5 CD retracement) and 2.2 (TP2 @ 0.886 CD retracement).
