CHFJPY trade ideas
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.
CHF JPY SHORTRisk 0.5%
TP1 = 1:2 RR
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Short CHFJPYOn h4 and D1, it is looking bearish. H4 confirmation is already in check overnight.
140-150 pips will be easy target.
In a day or two days, target levels might hit.
Starting with 0.1 + 0.1 lot right now on differential levels. If is drags down, then getting more qty on smaller TF resistance.
My overall risk on this trade will be 1 lot max out of 100 total lots.
CHFJPY 4 Hour Analysis (26 June 2023)CHFJPY 4 Hour Analysis (26 June 2023)
1. Price is in wedge, so breakout trade is possible
2. We can see bearish divergence with AO
3. So, we if the wedge breaks from down, we can expect a short position
4. If the wedge breaks from upside, we will wait for retest for long position
CHFJPY 4 Hour Analysis (13 June 2023)CHFJPY 4 Hour Analysis (13 June 2023)
1. we can see that, the trendline
break retest is happening
2. so, to enter in bearish, we have to wait for
a reverser sign
3. Then only we can expect a strong
bearish move
4. For retest levels we can see it from
Fib levels
5. For more confirmation we can use
DMI oscillator or ADX oscillator.
long CHFJPYJun 11
I am using support and resistance as a basis for my trading. CHFJPY seems to be moving upwards based on the chart and trend line.
Disclaimer...........................
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice.