Price on CADJPY has been in a strong bullish trend since the February lows, consistently printing BOS and CHOCH to the upside along a clear ascending structure. After sweeping the 117.50 highs and tapping into a premium supply zone, price has now made an aggressive pullback, breaking structure to the downside and retesting the significant demand zone sitting between 113.00 – 114.00. This zone aligns with the $$$$ liquidity pocket, a prior BOS level, and the ascending trendline that has supported the entire bullish run.
The HTF trend remains bullish. This pullback is a gift, not a reversal.
Key Confluences:
Strong bullish trend intact from February — higher highs, higher lows
Ascending trendline support confluencing with demand zone (113.00 – 114.00)
$$$$ liquidity resting inside demand zone — sweep and reverse expected
Previous BOS level now acting as support
CHOCH printed on the pullback — early buyer interest showing
Supply and liquidity draw above at 117.00 – 117.50
Scenario A — Primary Entry (Deep Pullback into Demand):
This is the preferred entry. Price continues the pullback and taps the full demand zone before reversing.
Entry Zone: 113.00 – 113.50
Confirmation: 30M or 1H bullish CHOCH inside the zone
SL: Below 112.66 (full invalidation)
TP1: 115.26
TP2: 115.97
TP3: 116.50
Extended TP: 117.50 (swing high liquidity)
RR: Approximately 1:4 to 1:6
Scenario B — Alternate Entry (Mid-Range CHOCH Confirmation):
If price does not reach the demand zone and instead reverses from current levels, look for structure confirmation before entering mid-range.
Trigger: 1H bullish CHOCH confirmed above 115.50
Entry: 115.20 – 115.50 (retest of broken structure)
Confirmation: 30M engulf or strong close above 115.50
SL: Below 114.80 (below the CHOCH origin)
TP1: 115.97
TP2: 116.50
TP3: 117.50
RR: Approximately 1:2 to 1:3
Invalidation: Any 4H close below 112.66 cancels both scenarios. That level is the absolute floor of the bullish structure. Below it, the HTF bias flips and no buy is valid.
CADJPY 4HR — TWO BUY SCENARIOS ACTIVE | DEMAND ZONE 113.00 OR MID-RANGE CHOCH AT 115.50 | TARGETING 117.50
The HTF trend remains bullish. This pullback is a gift, not a reversal.
Key Confluences:
Strong bullish trend intact from February — higher highs, higher lows
Ascending trendline support confluencing with demand zone (113.00 – 114.00)
$$$$ liquidity resting inside demand zone — sweep and reverse expected
Previous BOS level now acting as support
CHOCH printed on the pullback — early buyer interest showing
Supply and liquidity draw above at 117.00 – 117.50
Scenario A — Primary Entry (Deep Pullback into Demand):
This is the preferred entry. Price continues the pullback and taps the full demand zone before reversing.
Entry Zone: 113.00 – 113.50
Confirmation: 30M or 1H bullish CHOCH inside the zone
SL: Below 112.66 (full invalidation)
TP1: 115.26
TP2: 115.97
TP3: 116.50
Extended TP: 117.50 (swing high liquidity)
RR: Approximately 1:4 to 1:6
Scenario B — Alternate Entry (Mid-Range CHOCH Confirmation):
If price does not reach the demand zone and instead reverses from current levels, look for structure confirmation before entering mid-range.
Trigger: 1H bullish CHOCH confirmed above 115.50
Entry: 115.20 – 115.50 (retest of broken structure)
Confirmation: 30M engulf or strong close above 115.50
SL: Below 114.80 (below the CHOCH origin)
TP1: 115.97
TP2: 116.50
TP3: 117.50
RR: Approximately 1:2 to 1:3
Invalidation: Any 4H close below 112.66 cancels both scenarios. That level is the absolute floor of the bullish structure. Below it, the HTF bias flips and no buy is valid.
CADJPY 4HR — TWO BUY SCENARIOS ACTIVE | DEMAND ZONE 113.00 OR MID-RANGE CHOCH AT 115.50 | TARGETING 117.50
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.