Chfjpysetup
ANOTHER RETEST BEFORE WE DROP AGAIN?CHFJPY has been a pretty bearish pair and at the moment, price is showing potential to re-test the zone i have marked at the grey price level before falling again. Bear in mind that price has been bearish for quite a while so we may be nearing the end of this bearish trend In that case, Price also has the potential to move up bullish to our stop loss.
CHFJPY BULL SETUP CHFJPY has currently created a double bottom and currently rejecting at monthly low last tested september this year. This is second try at 106.800 range and sellers are out of steam again with a bullish engulfing close to confirm the double top, this market is setup for a bullish ride and hopefully fundamentals doesn't ruin the show, personally i Favour a buy.
CHFJPY BUY TRADE SETUPPrice reversed from channel support and broke out of ascending trendline and resistance level.
Price has made a pullback and retests the broken levels that lined up with moving averages.
Considering that price has broken out of the counter trendline, the price has the potential to move higher towards the resistance zone from near the current level.
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FREE ANALYSIS ON CHFJPY - time for the bearsFREE ANALYSIS ON CHFJPY
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15 Min
Bearish Momentum found here. Price below all 3MA's.
1 HOUR
Price has just broke down the trendline and also tested it again. We can also see price breaking down off the MA 200 also. Expecting further down on this pair
4 HOUR
We are currently seeing a retracement of the recent bear run which started 30th June. Price broke down the 27day MA and the 100 MA's. Price did test the 200 MA and was rejected. we are now expecting price to test and break this MA 200 level for further bearish momentum.
OVERALL
Expecting more sell. see chart for TP expectations.
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FREE ANALYSIS ON CHFJPY - 26/06/19Welcome to @SiriusTrading, Check out my Free analysis on Forex and Crypto. Follow me for regular Analysis and dont forget to LIKE :)
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30 Min
This time Frame is supporting a bearish move. Price could test previous top before continuing down
2 HOUR
We are seeing a correction of price from the previous bearish move which started 12th April. Also Price is testing the Fib retracement level of 61.8%
4 HOUR
Bearish and its imminent. Thou Price is above WMA100, EMA150 and MA200 which could suggest a bullish move, i am still expecting a move down. wait for break in black line before joining in. 2 types of bearish divergence also found.
OVERALL
Expecting Price to drop
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Thanks for reading
See previous analysis
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CHFJPY FOR THE BULLS CHFJPY is currently looking good for a bullish move. In my previous mark up, i mentioned i would be keeping an eye on how price reacted around a daily timeline i plotted. ( I have attached that mark up below) As you can see, price broke above that trendline and continued to move higher until we reached a point of resistance where price as i would see it retraced. I marked the 50% retracement level with the grey horizontal line where we may see price move higher toward our take profit marked at the green line.
Always note that as price moves i.e retraces more to 0.618 the take profit would be adjusted accordingly and this is the case with all my mark ups.
Grey line- Entry
Green line - Take profit
Red line - Stop loss
Risk per trade - 1%
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POTENTIAL FOR CHFJPY TO MOVE BEARISH In my previous post i highlighted that CHFJPY had the potential to continue moving bearish. However since then , price moved higher than anticipated and is currently trading at 0.618 fib retracement level of the entire bearish move downward. I see potential for this pair to continue moving bearish as it is currently testing and trading a daily trendline with bearish divergence evident. Having said that, the Swiss Franc has also reached a critical point of resistance from where we may see price move down bearish.
I will be keeping an eye on price action and how the close of the 4hr candle.
Green line - TP
Red line - SL
Grey line - Entry
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