Hi Traders! CHFJPY forecast update and follow up is here. On September 29th I shared this “CHFJPY Forecast” in Trading View. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!
My Idea:
CHFJPY H4(4 Hours) Chart Current Scenario
Based on the above-mentioned analysis my short view is bullish here and I am expecting the price to move higher towards the strong resistance zone. After the first move to the upside currently it looks like a correction is happening and the price has reached a strong support zone. There are no evidences of a trend change at the moment. So until this strong support zone holds I expect the price to move higher towards the strong resistance zone shown in the screenshot below.
You can see this clearly on the H4 chart below:
As traders, we should always follow the facts. The facts are supporting the bullish view here and there are no signs against it. Because these are the kind of hints the market provides us at majority of the times and it’s our obligation as traders to be able to listen to these things that the market tells us and we should try to make the right actions.
For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report.
This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course, Live Market Analysis every single day.
If you have any further questions, don’t hesitate to drop a comment below!
To your success,
Vladimir Ribakov
Certified Financial Technician
