CHFJPY Bearish Signal Confirmed: Multiple Strategies Align

Greetings traders! Today, I bring your attention to a compelling bearish signal on CHFJPY, indicating a potential selling opportunity. Let's explore the analysis based on different strategies:

• Signal Decomposition Method:
  

Utilizing the signal decomposition method, we observe a robust bearish signal across multiple time frames. In H1, H4, and MN (monthly), the indications align, suggesting a downward trend in CHFJPY.

• Divergence Strategy:
  

Applying the divergence method, we find a noteworthy divergence in the MACD indicator within the D1 and W1 timeframes. This divergence further supports the bearish case for CHFJPY.

• Elliott Wave Analysis:
  

Engaging in wave analysis, we note the completion of Wave 5. Following that, Waves A and B have already concluded, indicating the initiation of Wave C. The expected trajectory for Wave C suggests a potential drop of around 400 pips in CHFJPY.

Considering the confluence of these different strategies, all pointing towards a bearish outlook for CHFJPY, it strengthens the conviction of the sell signal. However, as with any trading decision, it is crucial to employ proper risk management and perform further analysis to validate this trading idea.

Remember to conduct your own due diligence and adapt your trading approach according to your risk tolerance. Good luck and happy trading!