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CHFJPY Range Box Effect

Daytrader21 Przesłano 15 Lip jako Analiza CHF/JPY, Cel: 132.8700, Data: 1 z Wrzesień, 12:00 GMT  w #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]…
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4 Komentarze
Daytrader21 avatar
Daytrader21 19 Lip

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 Lip

Looking good buddy!

Daytrader21 avatar
Daytrader21 1 Sie

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 Sie

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.

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CAD/CHF Range Box

Daytrader21 Przesłano 31 Maj jako Analiza CAD/CHF, Cel: 0.7538, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #CAD/CHF #Fibonacci Extension #Psychological Number #Cadchf #Range Box
We can see that for the most part cross pairs like CAD/CHF have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 1.4000 round number and psychological number which is also the bottom of the current box and 1.4600 resistance and top of the box.
Major Levels to watch:
  • 0.7500 Big round number and psychological number and also support level.
…
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Daytrader21 avatar
Daytrader21 14 Cze

Update 2: Right now the 0.7500 support level and big round number is acting as support as per my analysis. We should see more consolidation during this time of the year and we should see many times this level being retested. Next week resistance stands at 0.7600, which makes just a 100 pips range from support level.

Daytrader21 avatar
Daytrader21 19 Cze

Update 3: Nothing much happened since my last update we have continued to move inside a very narrow range between 0.7600 resistance level and 0.7400 support level. For next week we should expect the market to be trading inside this two limits.

Daytrader21 avatar
Daytrader21 26 Cze

Update 4: There is nothing new to add on this pair as over the last few week we have moved inside a very narrow range between 0.7600 resistance level and 0.7400. For the following week the bias remains still the same and to move inside this consolidation.

Daytrader21 avatar
Daytrader21 29 Cze

Update 5: Due to high volatility environment we're back below our key support level and round number 0.7500. However if we can get a close above the round number there is a high probability that my target of 0.7538 will be hit

Daytrader21 avatar
Daytrader21 30 Cze

Update 6: As expected we hold above the big figure 0.7500 and we close at 0.7520 only 18 pips deviation from my initial forecast which was 0.7538.

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