Tag: CHFJPY Analysis

The CHFJPY trade was closed yesterday a few hours before the JPY interest rate announcement. I closed it with a loss of 11 pips.
I’m still holding my CADCHF trade, haven’t been able to move my SL order because it is still trading in the range I originally took my trade off:

This trade has been smashed by the announcement, first the CHF CPI, and today the 7.4 earthquake in Japan, luckily it has been rejected from the ST support around 0.9525

Trade Safe!

Raul Lopez
Forex Training

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CHFJPY – Long signal

The CHFJPY is trading in a clear bullish market condition (in fact, most JPY crosses are in a bullish market condition). Earlier this morning I got a signal to go long, but I wasn’t at my trading station at the time of the signal, now the CHFJPY retraced back and I have another opportunity to set my entry order at the same place:

Here are the details of my order:

Entry order: 92.98
SL: 92.62
TP: 94.74

Trade Safe!

Raul Lopez
Forex Training

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The CHFJPY has been trading in a range since the second week of September, the good news about it is that it is a very well defined range:

As I have mentioned before, we need to adapt to the market conditions (not the other way around). In this case, I’m going to try to find long opportunities around the bottom of the range, and short opportunities around the top of the range (green levels).

The other scenario is that the CHFJPY breaks the range, in that case, only trade opportunities in the direction of the breakout will be in play.

Trade Safe!

Raul Lopez
Forex Course

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As I already mentioned in my previous post today, we don’t have many opportunities today, there is nothing wrong with the market, it just looks like it is out of sync. Anyway, one of the few opportunities today is with the CHFJPY, which is trading in a bullish market condition, here is the CHFJPY chart:

CHFJPY
CHFJPY

As long as the CHFJPY keeps trading above 83.26 I will be looking for long opportunities.

This one, plus the other two I mentioned in my previous post are probable the only clear opportunities today.

Trade Safe!

Raul Lopez
http://www.protradingnow.com/

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Most Yen crosses, including the CHFJPY still have good profit potential for long trades, most of them are in a bullish market condition:

CHFJPY
CHFJPY

In the case of the CHFJPY, the market might retrace back to the ST support level (around HOPS1). I’m going to wait for it to retrace back to the ST support level, and look for upward pressure around it.

If it breaks down the HOPS1 level, I will stay on the sidelines.

Trade Safe!

Raul Lopez
http://www.protradingnow.com/

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