CHF/JPY SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
Previous week’s red candle means that for us the CHF/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 176.998.
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CHFJPY trade ideas
#CHFJPY elliot wave analysisAs can be seen, it looks like we are dealing with an ABC bullish corrective wave pattern, currently in wave 4 of wave C. There is a possibility of another short-term bullish move to complete wave C.
From there, we could look for selling opportunities in the direction of the higher timeframe trend.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
SWING TRADERS DELIGHT.CHF is one of the strongest currencies in recent times, looking at the weakness of jpyx lately, i anticipate a swing in the next 2 weeks of august, a 400 pip swing trade. trade responsibly, see the chart for more details. don't risk more than 1% of your account on any position.
CHFJPYCHFJPY is in strong bearish trend.
As the market is consistently printing new LLs and LHs.
currently the market is retracing a bit after last LL, which is 38 -50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new LL.
What you guys think of this idea?
CHF/JPY Day Trading Analysis With Volume ProfileOn CHF/JPY, it's nice to see a strong sell-off from the price of 175.83. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade.
Happy trading,
Dale
Forex Signal Alert: CHFJPY Pair AnalysisDear Traders,
We have identified a promising trading opportunity for the CHFJPY currency pair.
Direction: Sell
Enter Price: 173.941
Take Profit: 173.28066667
Stop Loss: 174.86166667
Rationale: Based on our analysis using the EASY Quantum Ai strategy, we predict a downward movement for the CHFJPY pair. Our strategy incorporates multiple technical indicators and market sentiment analysis that suggest a bearish trend. Specifically, we have identified an overbought condition and potential reversal signs, which support the sell recommendation.
1. Overbought Conditions: Oscillators such as RSI and Stochastic indicate that CHFJPY is in the overbought territory, increasing the likelihood of a price correction.
2. Market Sentiment: Recent market events and fundamental analyses suggest a weakening of the Swiss Franc against the Japanese Yen, driven by differing economic policies and market reactions.
3. Technical Patterns: Chart patterns such as head and shoulders and double tops have emerged, supporting our bearish outlook.
Stay vigilant and adjust your positions accordingly. Trade responsibly!
Best regards,
Your Trading Team
CHFJPY BearBearBias Bearish from H4 TF
Fundamental
JPY is strong with a lot of bullish data. CHF is fairly strong but interest rate come down
Price Action
Price retrace back into Daily SR level. Formed a double top pattern. Price breakout of the SR level of H1 rejected from Daily S/R level. Price is bearish to continue the H4 trend align with the Trendline
Confluence
Reject daily S/R level & H4 bearish trendline. Formed double top pattern and broke lower low close. H1 SR level and bullish trendline both got broke which make it a strong confluence point
Setup
Short Entry Broken H1 SR level.
SL 2x ATR(20)
TP Next daily SR level below. R:R 1:3
CHFJPY is BullishPrice was in a downtrend, but the bullish divergence indicates that bulls are rallying and trying to win the control back. Previous lower high is broken successfully, and now price is trying to define a higher low, which could mark the beginning of another bullish leg up as per Dow theory. Targets are mentioned on the chart.