chf/jpy

[Rob123]

Hi Raj.What is your thoughts on this one ? I see this pair is bullish from the 61.8 daily last swing but we have some downward support around the 88.66 ish area . Do you see something close as well ? Rob

[Raj]

Yes my friend, market is sitting at SK resistance, so if you're long, watch for that, as well as the downtrend line

:)

[Rob123]

Thanks Raj, Just making sure i'm getting the basics down and i'm on your same page :) I'm getting there slowly but surely.I've been going over quiet a few of your posts and your illustrations really helps how you analyze this market. Rob

[Raj]

240 chart has an up fib now after the bulls scored the high after bouncing on the daily TL...and we're sitting just above the 618 resistance...perhaps a retrace then we'll see if anything develops at the supports 382, sk etc.

:)

[Rob123]

Hi Raj, What is your thoughts on the chf/jpy ? If we can break that 4hr trendline we may have something here.I see one of those reversal pins on the 240.My weekly pivot is sitting at 88.74.This isn't real sagnificant but both my Daily and 4hr schocastics are lining up to the downside.Also looks like we came up to the 61.8 fiblevel on the daily swing from top to bottom. I'll be watching anyway. Rob

[Raj]

Hi Rob, this is what I have for this pair.

Yes big daily swing sinking from 618...which created a head & shoulders pattern on the second daily chart attatched, and so then 240 chart i"m pulling downswings to sell the resistances. 88.10 is daily 382 fib so be careful of that support if you're short.

Happy Pipping

:)

[Rob123]

Thanks Raj ,I've been in and out today.Looks like we are approaching the daily trendline from the upside and we have broke the 88.10, allthough not by much so we wait and see what happens from here. Thanks again,Rob

[Raj]

If you didnt get in on the 86 entry, Rob, here is one thing you can do...on the 240 chart we have our downfib, I've labelled points 1-2-3...these are the fib resistances...turn to a 5min chart and look for bearish CF's at these points...just a scalping tecnique

:)

Happy pipping

[Rob123]

Slick technique on scalping, Raj. I'll keep this in mind for sure. Thanks,Rob

[Raj]

Bears have hit the 118 D fib entension target...so if you are short, we may get pullback from here.

:)

[Raj]

I took the long at the D ext (appointed in earlier post) 86.70, but have banked at the top of old cons at 87.18...bedtime.

:)

Happy Pipping

[Rob123]

Hi Raj,What is your feed showing here ? I have 2 different feeds - one showing a tweezer bottom and the other not on the 4 hr. I was just curious. Rob

[Raj]

Rob, 86 bounce on the 240 chart, and sinking

:)

[Rob123]

Thanks Raj,I just signed on- it sure did sank from my last look. This is one is a little tricky .

Rob