CHF/JPY SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
CHF-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 172.716 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the CHF/JPY pair.
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CHFJPY trade ideas
CHFJPY Trend Continuation TradeCHFJPY Trend Continuation Trade
1. Weekly Uptrend
3. Nice bullish candles build-up
4. Structure HH-HL-HH-HL
5. Trend Following Indicator confirmation
6. BUY/SELL Indicator confirmation
7. Strong CHF Environment
8. 2% Risk, Nononsense Trade Management - VP THANKS!
9. 1,5 Daily ATR Stop Loss
10. 1 Daily ATR Take Profit and then Break-even
11. Exit on reverse candle/exit indicator signal/Break of Structure
CHFJPY Resistance Breakout Spotted At 175.130 06.06.2024- Resistance breakout spotted at 175.130 on CHFJPY's 1-hour chart.
- If breakout holds, potential rise to 175.664.
- Break above 175.664 could lead to further gains towards 176.344.
- Conversely, if breakout fails, potential drop to 174.708.
- Break below 174.708 may trigger further decline to 174.377.
- Apply risk management
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Disclaimer
DeGRAM | CHFJPY reached the resistanceCHFJPY is moving between the trend lines in an ascending channel.
The price started to react to reaching the resistance level by decreasing.
The current resistance level at the last touch became a pivot point.
We expect a decline to the support, which coincides with the 50% retracement level.
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CHFJPY: The Resistance HOLDS!CHFJPY is likely to pull back from a significant daily resistance level near the high of the year.
This is supported by a double top pattern with a confirmed breakout below the neckline.
I anticipate that after retesting the neckline of the double top, the market will continue to move downwards towards a rising trend line.
Trade Like A Sniper - Episode 14 - CHFJPY - (4th June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions.
A couple of things to note:
- I cannot see news events.
- I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range.
- I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks
In this session I will be analyzing CHFJPY, starting from the 12-Month chart.
- R2F