Great bat, already starting to reverse on the daily with the Doji at the peak. A = .382 - .5 B = .382 - .886 C = 1.618 - 2.618 X to D = .886 Shows some previous Support/Resistance at these levels, indicated by the yellow line
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Whatever goes up comes to a short trade!
The pair CADJPY is evolving inside an ascending channel daily. A rebound on the major resistance at 91.60 is probable with a first psychological target at 90.00 then 88.00 which is the next major support.
Currently seating at an important resistance zone, CADJPY offers a potential sell opportunity and later a potential buy. Say welcome to 2018 :)
Waiting for a daily closure above 89.810 for buy opportunities. Price broke back up above weekly resistance, now should move up towards the next level of resistance.. Waiting for further confirmation.
Today's price showed a continuation in the trend Buying this at 1:1 Risk Reward to 91
The Canadian Dollar has been appreciating in a channel up against the Yen since mid-December. Along the way, the pair breach the prevailing three-month descending channel. Meanwhile, it has reversed near the dotted line on several occasions within the aforementioned short-term pattern. In case the Loonie fails to breach this line today, a breakout south is...
V.Bearish 88 zone nice resistance. Could look for a short there as a good lre. Next zone : 87 Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is...
CADJPY has reached our major resistance level and is starting to react strongly off it. Major resistance to keep an eye out on remains at 89.75 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) and a strong drop could occur at this level pushing price down to at least 88.52 support (Fibonacci...
cadjpy short trendline breakout structure breakout retest 61% fib tp 100pips
CADJPY Review ------------------- Pattern : Inverse Head & Shoulder and Flag Pattern. Possible Target : 100 Invalidation : If price comes below the neckline Trading Tips : "When I trade, I don’t just use a price stop, I also use a time stop. If I think a market should break, and it doesn’t, I will often get out even if I’m not losing any money" - Paul Tudor...