CHFJPY Breakdown – May 9,2020

CHFJPY, Monthly

CHFJPY Monthly

The monthly shows price converging and we could see an explosive breakout.

 

CHFJPY, Weekly

CHFJPY Weekly

On the weekly we see a closer look at price converging there’s nothing to report home about here.

 

CHFJPY, Daily

The Daily timeframe shows a bearish trend. The market clearly making lower lows and lower highs. Remember we are still in the converging wedge. We could see price make a lower low but we would have to wait a few days to see what will happen.

 

CHFJPY, H4

CHFJPY H4

On the H4 timeframe, there’s a falling wedge although there’s nothing clear in this instance its good to note. I want to make mention of the “Fall” and the “Climb”. The “Fall” seems forced and also the “Climb” both those pushes seem a little unnatural. There were no pullbacks just a huge thrust and normally when I see these types of moves I wait for the market to normalize. So as is, I’m not seeing anything clear to suggest an entry so I will sit and wait.

4 comments
    1. Low capital has nothing to do with timeframe. If you have low capital i suggest you get a micro account. If you have a micro account you will be able to risk 1% even on the highest timeframes.

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