The date of the predictions is not relevant as I don't do time analysis
Only if the correction were in holds and a impulse wave failure doesn't occur
And assuming we dont have another mental christmas period
CHFJPY is showing a very very nice opportunity to go short. On a Daily Timeframe price broke the Weekly region and now is testing the same region to continue to the downside. In 4 hr timeframe price is forming a Double Top and we are waiting the final confirmation to enter a trade short. What is the final confirmation??? THE CANDLESTICK...
Looking like a falling wedge pattern leading to support between $1.6 & $1.7, and that's where the buy zone is going to be in this trade.
RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern.
Favourable Risk to Reward here
Entry: @ $1.68 - $1.61
Stop-Loss: @ -8%
TP1: @ $1.96,
Price has respected the blue trend line perfectly 3 times and on the 3rd it has made a bullish engulfing candle stick. If you look at the 1hr time frame the price has made a flag and this could be the entry i wanted.
Good start trading week Good start of trading week at all, I propose the analysis version on this couple, because it is present in my weekly watchlist!
Good reading to everyone.
W1 = Starting from the weekly chart we can see that prices are supported by a long-term trendline, despite the double maximum on resistance (red)...
In my opinion when price reaches the 95.000 or 89.000 the price should show signs of reversal indicating a possible bullish run. As you can see at the date 07/12/2017 prices made its bullish run from that point 95.000. Will history repeat itself?
If support holds we may see bullish price action towards upside target 1- then then target 2
However if we get a break of the ascending trendline we could see bearish price action towards downside target one