Community
Blog
Daytrader21's Blog

Daytrader21's Blog

Avatar

CHFJPY Range Box Effect

Daytrader21 Posted 15 Nov. as Analysis on CHF/JPY, Target: 119.1000, Date: 1st of January, 12:00 GMT  in #Technical analysis #CHF/JPY #Psychological Number #Range Box
CHF/JPY has been moving slowly from one range box to another one and right now we're at the point of just breaking out of the current narrow range box that has been established between 123.40 top of the range and 121.20 bottom of the range. A break below this level should open up the range towards next big target of 120.00 which is a big psychological number and at the same time around this level we had our last swing low point back in March 2015.

Major Levels to watch:
[list][/list]…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

6 Comments
View 1 more comments
Daytrader21 avatar
Daytrader21 29 Nov.

Update 2: As expected we broke below the big psychological figure 120.00 which for the time being can act as resistance and more downside should be followed. Next level of support came at 118.00 from where we should expect a bounce

Daytrader21 avatar
Daytrader21 14 Dec.

Update 3: Even though we broke higher and we're back inside the range the price structure looks corrective and we should see a retest of the big psychological number 120.00. Resistance stands at 123.00 while the first level of support for this week stands at 121.80, we need a daily close below this level for further downside

Daytrader21 avatar
Daytrader21 20 Dec.

Update 4: We broke to the downside current support level at 122.50 and managed to close below it, which will warn us for more downside. There is not much support to the downside until we hit the big psychological number 120.00 and the bearish trend still looks intact.

Daytrader21 avatar
Daytrader21 27 Dec.

Update 5: As expected we continue to push lower and close below the 122.50 support level. Next support level is the big round number 120.00 which needs to be broken in order to see more downside pressure coming in the market. Now the first level of resistance has become the previous support level at 122.50

Daytrader21 avatar
Daytrader21 1 Jan.

Update 6: As expected we continued to break down however we weren't able to break below the key psychological number 120.00. We're still almost 100 pips away from my target and the fact the we didn't close below this figure we may take a pause or even get a bounce from here.

orto leave comments
Avatar

CHFJPY Range Box Effect

Daytrader21 Posted 15 July as Analysis on CHF/JPY, Target: 132.8700, Date: 1st of September, 12:00 GMT  in #Technical analysis #Fibonacci Extension #CHF/JPY #Psychological Number #Range Box
CHF/JPY has been moving slowly from one range box to another one and right now we're just breaking out of the current range box with the range between 127.00 support level and 130.00 resistance zone(see Figure 1). Since we broke and manage to get a weekly close above this resistance level we may assume that we're heading higher where another range box should be established.
Major Levels to watch:
[list][/list]…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

4 Comments
Daytrader21 avatar
Daytrader21 19 July

Update 1: For next week we need 129.00 level to hold up as support even though the market can go as low as 128.50-128.00 the analysis is still intact as long as we have a weekly close above 129.00.

Metal_Mind avatar
Metal_Mind 27 July

Looking good buddy!

Daytrader21 avatar
Daytrader21 1 Aug.

Update 2: We're still inside the range box from 127.00 support level and 132.00 resistance zone and in coming weeks this should be the limits where this pair should be trading. Next week look for 128.00 to hold as support and with the first level of resistance at 129.60 right ahead of bog round number 130.00

Daytrader21 avatar
Daytrader21 9 Aug.

Update 3: Unfortunately we have broke again to the downside making this down leg quite strong and it may be the case that I'm wrong on this prediction. However if next week we manage to erase previous week losses it may prove this to be a false breakout, but we need a quick recovery.

orto leave comments
Avatar

CHFJPY Range Box Effect

Daytrader21 Posted 31 May as Analysis on CHF/JPY, Target: 133.4400, Date: 1st of July, 12:00 GMT  in #Technical analysis #CHF/JPY #Fibonacci Expansion #Support And Resistance #Chfjpy #Range Box
CHF/JPY has been moving slowly from one range box to another one and right now we're just breaking out of the current range box with the range between 128.00 support level and 131.20 resistance zone(see Figure 1). Since we broke and manage to get a weekly close above this resistance level we may assume that we're heading higher where another range box should be established.
Major Levels to watch:
[list][/list]…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

4 Comments
Daytrader21 avatar
Daytrader21 14 June

Update 1:Right now we're in the process of establishing the next range box as per Figure 1. WE had a nice retest of 132.00 support level and right now the market is heading back for a retest of resistance level which stands at 135.00 big round number

Daytrader21 avatar
Daytrader21 19 June

Update 2: Like all the other crosses we have been moving inside a very narrow range between 131.50 support level and 134.50 resistance level. Next week we should expect the market move inside this range as the summer range trading condition persist.

Daytrader21 avatar
Daytrader21 26 June

Update 3: The market is bouncing from current support level at 132.00 (see figure 1). Next week we should expect the market to retest at least the middle of the range which stands at 1.33.50 which is also near our target. The 132.00 should provide further support.

Daytrader21 avatar
Daytrader21 29 June

Update 4: Even thought we're 100 pips away from my target current volatility may be supportive for the upside momentum to continue pushing higher. Right now we have been filling the weekly gap and if tomorrow we can get above 132.75 than we should see more upside prices

orto leave comments
Avatar

CHF/JPY Range Mode

Daytrader21 Posted 27 Dec. as Analysis on CHF/JPY, Target: 122.8000, Date: 2nd of February, 12:00 GMT  in #Technical analysis #Elliott Wave #CHF/JPY #Range #Zig Zag Pattern #Wxy Sequence
Like all the yen pairs, CHF/JPY has also been trading higher and after more than 1000 pips in a matter of only 2 months this pairs is taking a pause and we can already see it has established quite a big range from 124.50 previous swing high which is our resistance level and 120.50 support level which makes 400 pips of ranging zone(see Figure 1). Until we break one of this level we can safely assume we're going to be trading inside this range in the coming weeks and as Elliott Wave sequence sugge…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

1 Comments
foreignexchange avatar
foreignexchange 28 Dec.

Thanks, well done

orto leave comments
Avatar

CHFJPY Clash of The Titans: BOJ and SNB

Daytrader21 Posted 18 Oct. as Analysis on CHF/JPY, Target: 106.6000, Date: 2nd of December, 12:00 GMT  in #Technical analysis #Support #Resistance #Boj #Elliott Wave #Snb #CHF/JPY #Box #Ranging
Since beginning of the year after we had BOJ step into the market and announced his stimulus program CHFJPY has been going nowhere. In fact the only notable thing is that we have made a new high above the high we made in the 2011 summer. That high was put in place right after we had the SNB intervention.
This pair is stuck between the battle of the biggest central bank in the world SNB and BOJ, which has kept the pair in a tight ranging zone in the last months. The fact that we couldn't stay …
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

9 Comments
View 4 more comments
Daytrader21 avatar
Daytrader21 25 Oct.

Update 2: The sell of continued in the last few days confirming that a top is forming right here we still have to go more to the downside before wave 1 of the current down wave to complete. Next support is at 107.80 where I'm expecting to make a minor swing low and complete the wave 1 and start another attempt towards the highs and form wave number 2 before collapsing.

Daytrader21 avatar
Daytrader21 2 Nov.

Update 3: We finally manage to get a decent sell of from the highs and as I stated in my previous update the market indeed fin support at around 107.80 and the fact that we manage to close the daily candle above the round number 108.00 suggest that it will take more time before to continue to the downside. This is just the first leg based on Elliott wave analysis so in this stage price developing should be more quiet .

Daytrader21 avatar
Daytrader21 8 Nov.

Update4: The momentum in the past days continued to the downside gaining more ground and near our 106.6 target. The first wave is not yet completed this suggest further consolidation ahead.Expecting 107.00 support line to hold for some days now before any move to the downside. We may even deep below our target to close the gap at 105.60 from where I'm expecting a strong reaction.

Daytrader21 avatar
Daytrader21 15 Nov.

update 5: After hitting our target last week is seems the market has took another run up to retest the highs. The current rally has took shape of a five wave rally sequence. which suggest the 109.80 top should hold and we should see a strong correction from beginning if next week that should take us back to our 106.60 target

Daytrader21 avatar
Daytrader21 22 Nov.

Update 6:It seems CHFJPy has broken higher as USDJPY was moving higher and this dragged everything to move to the upside

orto leave comments