CHFJPY Long Trade OpportunityA buy trade opportunity recently presented itself on the CHFJPY trading chart. This is confirmed by the bullish engulfing candlestick pattern just above the 134.650 weekly horizontal resistance level. The level was recently broken by price, followed by a pullback and this idea is actually signalling a continuation of the upward move.
With SL at 134.500 (about 40.6 PIPS) and TP at 136.222 (about 131.6 PIPS), a R/R of 3.24 is possible.
Don't forget to do your due diligence by comparing this with your trade setup and seeking trading advice.
As always:
Look first, then leap!
Swissy
USD/CHF; Asia Short Execution 06:13:46 (UTC) Fri Jan 28, 2022USD/CHF; Asia Short Execution 06:13:46 (UTC) Fri Jan 28, 2022
"Price is primary. Stop trying to justify how great a company is, it doesn't mean shit if price doesn't agree and is collapsing. The last couple of months have been case & point. Throw economics, logic, rationale out the window. Don't over complicate things!"
USDCHF - Monthly Elliott LiveAs per plotting of the monthly in Advanced Get - we will update these ideas with weekly & daily plots.
Disclaimer
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USDCHF Calling For Help!!!many traders out their when they look into the weekly chart of USDCHF find it attractive since it never bounced in a corrective manner nor impulsive, and i agree long term there is still more room to go up.
but short term i still see some pressure from the DXY on this pair and we might target 0.8500 level before turning bullish again!!
Good luck!!
Chance of a Wave 5 on Swissy? - Breakout Long? I have marked the chart with potential Elliott wave on the 4 hour chart.
We see a strong wave 3 up followed by what can be seen as a bullish flag on the D1 chart and some sort of a bear wedge on the 4 hour chart
From what I Call THE SETUP ONE concept it is a wave 4 within tight boxes. I see a 4 hour bullish candle. I am long above this
Long Entry: 0.9175
Stop Loss: 0.9135
Target 1: (Peak of Wave 3) @ 0.9233
Target 2 : This is the Target Zone 1 are 0.9295
Good luck!
USD/ CHF Bullish Shark Pattern. Earlier this this month i drew this Pattern and have been waiting on the completion of it. The pattern is complete and the blue line represents the make or break point of the pattern. if a candle closes below the blue line the pattern is invalidated. i put a note stating I'm waiting on a complicated structure to form to justify the entry. we are now forming that structure. we want to wait for the a candle to close above the Mid-point before entry. Be wary of the 50% retracement of this pattern as this is the deciding point for the shark to turn into a bearish 5-0 pattern.
USD/CHF (Swissy) Here on the Swissy we have a crab. The ABCD Back bone of the pattern has been blown so we shall see if the pattern is still valid. With crab patterns we see PA retrace to the 1.902 level and PA become volatile and reverse. we are entering a weekly support level so we shall see how PA reacts. Sorry for not going into it any deeper I am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live i will upgrade my TradingView package to Premium and advertise them on my TradingView.
USDCHF SETUP 1:2Using trend lines, a clear bullish trend has been identified with strong support and resistance levels also being identified.
After a bullish week in USDCHF, prices have reached the resistance level.
The last candle was bearish indicating possible bearish momentum coming into the markets.
This could indicate a pullback to the support level.
CADCHF// UpdateIn my previous analysis, I suggested that the selling opportunity at the trendline and area of resistance may have been to good to be true and we'd have a possible break out.
Currently, the market has broken out of the trend and is about to retest the area, which is also the midline of the overextended W that formed. I will be looking for longs on this retest with a target at the next area of resistance a little above my -0.618 zone. An example of what Im looking for is drawn in the bottom right.
Previous analysis linked below.
Swissy making another run to the downsideAs we discussed on Monday's FX market scan USDCHF looks like it's finished its correction and is making another run to the downside on the daily.
See you on the next call in Market Mentor on Monday at 5 pm AEST
Cheers
Dale
DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situatio