Trade Idea On CHFJPY.1. Based on pure price action and Order flow.
2. Fundamentals in favor. Trump winning : JPY gonna sink.
: Study :
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CHFJPY
CHFJPY - 4HSwiss Franc has been bullish against the Japanese Yen from long time due to its strong economy, now the Swiss Franc is near its all time high of 168.400, which was made in October, there are two scenarios which can be, the 1st one is that it will retrace before moving up further and the levels of retracement can be 167.176 and if broken can reach up to 165.136. If this does not happen it may break the resistance and make a new all time high. So risky traders can open a small trade for sell till the retracement and place a stop loss of 169.060 achieving a 1:2RR.
CHFJPY Risky Trade buy limiteBuy Limit - 139.000
SL - 138.900
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💡Don't miss the great sell opportunity in CHFJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (147.220).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CHFJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 27.
Take Profits:
TP1= @ 146.431
TP2= @ 145.893
TP3= @ 145.210
TP4= @ 144.310
TP5= @ 143.516
SL: Break Above R2
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CHFJPY Trading Plan - 22/Sep/2022Hello Traders,
Hope you all are doing good!!
I expect CHFJPY to go Down after finishing this correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
CHFJPY Trading Plan - 11/Aug/2022Hello Traders,
Hope you all are doing good!!
I expect CHFJPY to go Down after finishing this correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
CHF/JPY potential short CHF/JPY potential short entry trade setup : We could see a retracement to daily and 4-hourly supply zone of 142.910 - 143.714, where we will likely be looking at entering a short on this order block with targets as mentioned in chart. This is a high probability trade as the order block coincides with the fib level of 78.6/61.8 and daily resistance level. This move up could be to fill the weekly wick before prices head down.