Swiss Franc / Japanese Yen forum
CHFJPY Buy Triggered.
CHFJPY where do we think it’s dropping to? 165 incoming?CHFJPY Prepping for another buy.
CHFJPY we going long lets eat
CHFJPY Going For A Sell, Any Thoughts?CHFJPY Prepping dor a buy.
CHFJPY For the time being until JPY CPI is released Monday, if were echoing the sentiment this looks to be a buy. Currently in a position now
CHFJPY may going 176.76
CHFJPY 174.500 may be
CHFJPY CHF/JPY October Market Structure and Trading AnalysisIn the CHF/JPY pair, the October monthly structure reveals an open high-low-close pattern, which points towards a potential sell setup. As of now, we are awaiting confirmation through a TDI (Traders Dynamic Index) cross to validate entry points for sell trades.
Key Technical Highlights:
1. Bearish Divergence: A clear bearish divergence has been forming since July 19, 2024, extending to the current market price. This divergence signals a potential shift in market sentiment, suggesting a downward move may be imminent.
2. Open High Structure on Daily Chart: The daily timeframe for October continues to display an open-high structure, reinforcing the bearish outlook for the month.
3. Overbought Market Conditions: The price is showing signs of being significantly overbought following a strong bullish breakout from October 1, 2024. This overbought condition makes the pair vulnerable to a correction, further strengthening the sell setup.
4. TDI Cross for Confirmation: A bearish cross in the TDI indicator will provide confirmation of the presence of sellers in the market. This signal is crucial before initiating sell positions.
Take Profit Levels:
- Take Profit 1: 172.000
- Take Profit 2: 170.750
- Take Profit 3: 170.000
Trading Recommendations:
Patience is key—wait for clear, valid signals such as the TDI cross to confirm entry points. As always, exercise caution and apply proper risk management when trading to protect your capital.
If you find this analysis insightful, please like, leave a comment, and follow for more updates. I will happily follow back. Good luck with your trades!
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