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Possible CHF/JPY Short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-4 days Actions on - A – Activating Event Market will meet resistance in zone @112.1 - .... and fall to the @110.00. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 110.00 FX:CHFJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 110.00 Target 2 @ .... Risk/Reward @ 5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
8
USD JPY Analysis: Chart Patterns for Long Term PerspectiveConclusion for today’s USDJPY analysis:The minimum target for price action is 113.389. USDJPY analysis is carried out on a daily timeframe with coverage of over 26 months of price action starting from the price peak of 118.662 on December 15, 2016. The main goal of the current analysis is to provide a long term framework or perspective for the USDJPY that will be highly invaluable in projection of future price movement. Price bottom i.e. price low of 104.656 achieved on January 3, 2019 provides the second pivot for price that is used to define the lower boundary of a rectangle bottom chart pattern. A parallel line drawn over 113.985 is used in this USDJPY analysis as the upper boundary of the rectangle bottom; a chart pattern that ideally has bullish implications. Also of great importance is the 104.824 price level as it also helps establish the horizontal boundary required for a descending triangle chart pattern. The upper boundary of the aforementioned pattern is the downward sloping red line on the chart highlighted in red.The descending triangle is ideally bearish. This therefore means that a bullish breakout from a descending triangle cannot be ruled out, and in fact a bullish resolution of the pattern (i.e. chart pattern failure) can result in very powerful bullish price swings.
by Coin_Analyst
USDJPY breakdown for the next few days.11I am not one for breaking down Forex pairs but I thought I would give it a try. You can see in the last few days there has been some other patterns and trends occurring, pennants, descending scallop, consolidation. Now I think we are in a big rising wedge and one is breaks the wedge it can go down to the 110 mark or maybe even the 110.316 mark. when it gets to the 112.009 resistance I think it could break out of the wedge early or break it and continue with the pattern and fall at an later date. Please leave thoughts below, would be very much appreciated!
by jrotth