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Chfjpysignals

CHFJPY | Perspective for the new week | Follow-up detailsWe had a 100pips move in our direction since my last publication (see link below for reference purposes) and with the current structure in the market, it appears we are back on the track of a rally continuation which I projected on the 11th of July 2021 (see speculation in the link below). With the anticipation of the Swiss Producer and Import price later on in the coming week- an event termed as non-high impact, the indecision that gripped the market in the last couple of months could be coming to an end as I look forward to taking a long position on this pair as only if price action remains above my Key level @ Y119.700. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (retracement) Observation: i. Like I stated in my publication on the 11th of July 2021 (see link below); The Swiss Franc lost all it had gained (over 300pips) between 29th of April and 15th of June 2021 and at the time of writing this report price remained effectively "supported" at Y119.000 tagged the Demand zone. ii. Considering the Bullish long-term perspective on this pair (see daily/weekly chart) and the inability of sellers to push below Y119.000 in the last two months, the consolidation phase that started mid-June 2021 has a tendency to do a Breakout in the coming week(s). iii. Multiple rejections of Y119.400 in the latter part of last week trading session is a clue that Bullish momentum is building in the background. iv. In this regard, I look forward to a significant breakout of Trendline which will make a confluence of Key level @ Y119.700 in the near future and a possible transition into a harmonic pattern (AB = CD) with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with a possibility of retracing into 78.6%) of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ Y122.000/122.200 area. v. As long as the event unfolds to us as speculated, an opportunity to add a position may present itself to us when price successfully do a breakout/retest of Y120.000... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:7 Potential Duration: 6 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
CHFJPY | Perspective for the new week | Follow-up detailsWith a break-even position on this pair and considering the appearance of a Double top structure, I suspect that price is going through a correction phase in anticipation of a rally in the coming week hence an opportunity to take a quick trade in the opposite direction of my last speculation arises (see link below for reference purposes). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) | Trendline Observation: i. Since the 20th of July 2021, the price has continued to find a higher high and appear to have found a roadblock @ Y121.200 following a double rejection of this level. ii. Double Top: The appearance of an extremely bearish technical reversal pattern after the price reached a peak two consecutive times (Y121.200 & Y121.130 respectively) with a moderate decline between the two highs and it is confirmed when the price fell below support level equal to the low between the two prior highs (Neckline @ Y120.500). iii. In view of my last speculation on this pair, I suspect that the double top at this juncture in the market signals a medium-term trend change in price with the anticipation of a rally in the nearest future. iv. In this regard, the neckline remains a Key level for a short-term bearish continuation. v. Please note that the early hours/days of the new week might see price climb to test Y120.750/120.900 area to incite bearish continuation...Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 80 pips. Risk/Reward : 1:3 Potential Duration: 2 to 5days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
CHFJPY | Perspective for the new week | Follow-up detailsWe witnessed over 500pips move in our direction since my last publication on this pair (see link below for reference purposes) and it appears we are at another juncture where a possible Trend continuation is looming. The general risk-off tone of the markets is very likely to surge the Swiss franc into a higher high as I anticipate a Breakout/retest of Neckline @ Y120.700 area to clear all doubts off of Bearish tendencies. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. In the view of a long term perspective that projects Bullish expectations, it is pertinent that we notice that price has continued to remain above Y119.000 since it broke above this level on the 29th of April 2021. ii. The Swiss Franc lost all it had gained (over 300pips) between 29th of April and 15th of June 2021 and at the time of writing this report price has come back to settle at the Demand zone where the Bullish run started. iii. The price consolidating between Y119.000 and Y120.700 confirms the indecision that has gripped the market in the last 3 weeks which also calls for patience if we plan to trade this pair in the coming week(s). iv. The appearance of a Double Bottom (an extremely bullish technical reversal pattern) inside the Demand zone expresses a build-up that supports a change in trend and a momentum reversal from prior leading bearish price action as the twice-touched low @ Y119.000 area confirms this zone to be a strong support level (as long as it is not broken). v. Considering the Impulsive Bearish move prior to the consolidation phase; I look forward to a Breakout of Neckline (key level @ Y120.700) for confirmation to hop in a rally. vi. It is also necessary that I state here that the Demand level is exactly at a 61.8% retracement of a Bullish Impulse leg on a higher time frame (see weekly chart). vii. Even as I remain unable to rule out a possible breakdown of Demand zone, Break out of key remains our yardstick for Bullish expectation in the coming week (s)... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
CHFJPY | Perspective for the week | Follow-UpMy last publication on this pair witnessed Price moving 90 and 100pips consecutively from our Buy windows before the crash (see link below for reference purposes). I remaining Bullish on this pair as we find ourselves in another trading opportunity arising from a simple Reversal set-up on the 4Hour chart. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Reversal Pattern (Double Bottom) Observation: i. We have been in a long term Bullish perspective since 2019 as the price continues to reject Fr116.000 level in recent times. ii. The decline that started mid-March 2021 appears to have found bottom @ Fr116.000 again as the appearance of a Double Bottom structure signals another reversal from the Demand zone. iii. My Key level @ Fr116.650 which will also serve as the Neckline shall be my yardstick for Buying opportunity in the coming week(s). iv. With a Breakout of Neckline finally happening during the latter part of last week trading session, it is time to make a move to join the rally as we look for buying opportunity above this level... Trade consciously! :) Trading plan: BUY confirmation with a minimum potential profit of 180 pips. Risk/Reward : 1:6 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
CHFJPY | Perspective for the new week | Follow-upThe price moved over 100pips in our favour since the counter-trend opportunity (see link below for reference purposes) before what appears to be a gradual change in structure that supports completion of a Reversal pattern. Recall that I warned against factors that might disrupt the previous set-up thereby giving way for a rally continuation (see my penultimate publication in the link below). Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Reversal pattern | Harmonic (Cypher) Observation: i. The Bearish run that began on the 17th of February 2021 found a Bottom @ Y116.000 and since then the price has continued to find Higher highs that culminated in a successful Breakout last week Thursday. ii. Between the 1st and 10th day of March 2021, the Key level @ Y116.850 experienced selling pressure which finally saw a Breakout with signs that a new trend might have begun! iii. In this regard, I have identified two key areas to take advantage of the new trend and this is illustrated on the chart as Buy window I & II. iv. With the present pattern @ Y117.400, we might see a dip below my key level @ Y116.850 (corrective phase) hereby transposing into a Cypher pattern before the rally begins. v. Whatever happens, anywhere above Key level shall be a good area of confirmation. Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 4 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
CHFJPY | Perspective for the new week | UpdateThis is a follow-up on my previous publication as we are yet to find a headway (see link below for reference purposes)... Recall, I mentioned in my last publication that we are in a long term uptrend situation on this pair. However, it appears the price is going through a corrective phase that might incite the much-expected rally in the nearest future. In this regard and despite Bullish expectations, I am looking for a "quick" counter-trend opportunity with hopes of a rally in sight. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. Since the 16th of February 2021, Bears have been engaging the charts as I expect a transposition to a Harmonic pattern (AB = CD) this week. ii. ABCD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently hovering around 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ Y115.500/115.000 area. iii. My Key level @ Y117.300 shall be my yardstick for Bearish expectations in the coming week as any spot below this level is good for me! iv. This been said, I am advising that taking this trade requires utmost attention as we are generally on an uptrend and factors that might disrupt this set-up giving way for an immediate rally continuation can happen anytime... trade consciously :)! Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
CHFJPY | Perspective for the new week | Follow-upWith 200 pips in our favour since my last publication, it appears we are close to another trading opportunity should the pattern transpose into expectations. What appears to be a temporary Breakout of Y118.000 on the 15th Feb 2021 reveals that there is a strong presence to buying pressure around this area and could be a level to focus on in the nearest future for buying possibilities but before this happens, find below my expectations; Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. The strong engulfing Bearish candle in the last couple of days after the breakout of Y118.000 is a sign that we might be experiencing "quick sells" - a correction wave in anticipation of a rally in the coming week(s). ii. Since the beginning of the year buyers have done a great deal to keep price above Key level hereby confirming to us how powerful their presence is at this juncture in the market. ii. In this regard, I have found two levels (Buy window I & II) to look out for buying options in the coming week(s). iii. The Bullish Trendline on the weekly chart shall be a yardstick to maintain the Bullish bias as a Breakdown/retest of this line shall render this bias invalid. iv. Now, if price decides not to reach any of the Buy windows, a close above Y118.000 could be a good opportunity to join the rally... Trade consciously :) Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:3.5 Potential Duration: 15 to 25 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
CHFJPY | Perspective for the new weekThe Bullish run that begun mid-November 2020 gets caught and sandwiched in a Bullish rectangle pattern until it finally broke out of the range last week. This development hereby gives rise to a trading opportunity that we might exploit in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Channel (Bullish rectangle) | Breakout | Supply & Demand Observation: i. Bullish Rectangle: This pattern is described by horizontal lines showing significant Demand and Supply level which has been respected since late last year (2020). ii. A successful Breakout of my Key level @ Y117.250 during the course of last week trading session is a signal pointing towards the idea that price might be anticipating new highs in the coming week(s). iii. After the Breakout, price is presently going through a corrective phase and patience is required to ascertain where Buyers are going to resume the rally. iv. My new and propose Demand level in the coming week shall be around Y116.650/117.200 where engulfing candle springing out of this zone might be a signal to follow. v. It is important to state here that if the price significantly comes down Y117.250 and extend into Y116.400, I shall revert to my previous set up on this pair (see link below for reference purposes). Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
CHFJPY | Perspective for the new week60pips against us since my last publication on this pair (see link below for reference purposes); Price finally touches Y117.500 zone just like it did in August 2020 to make a Double Top structure. This was met with rejection followed by Lower Lows in the latter part of last week trading session. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Supply & Demand | Double Top Observation: i. Since July 2020, price action has been caught within a channel of Supply and Demand. ii. The appearance of a Reversal pattern since price hits Y117.500 has given rise to a risk of further decline in the coming week(s). iii. I shall be expecting a significant Breakdown of Key level @ Y116.400 (Neckline) for a signal this week. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
3