Trading news

CHF.JPY – Has the bottom been reached?

Weekly chart:

The big picture created a new top at JPY 139.118, and has been in a correction since then. The price is near the upper range of the green correction zone and if a few reversal signals occur there, we can consider a new long trade. However, this trend size is more for investors.

Chart1

Daily chart:

If you want to trade in the daily chart, you have a very good chance for a short trade. As we can see, the small trend is showing us a downtrend with a correction zone between JPY 110.79 and JPY 112.57 on the upper side. The current price is very close to the last point three (JPY 112.57), and as long as the price remains in the red zone, the trend has the ability to continue. Should we receive a close above the point three, then we have missed our chance.

Chart2

Hourly chart:

In this trend size we see a slightly unhinged situation. The medium size is showing a young downtrend where the price is deep into the red correction zone. Included in this trend, we see an uptrend with a purely corrective character. Situations like these are very dangerous because we cannot know which trend size will be stronger. In this case we must wait for a clearer situation.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Trader asset management
BORN STAHLBERG & Partner
office@gabel-trading.com

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Friday, 13 May, 2016 / 11:25

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Source : https://agenatrader.com

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