Hi Realistic Traders, let's delve into the technical analysis of FX:CADJPY
CADJPY is currently trading above the EMA90 line, indicating a robust bullish trend. The formation of a symmetrical triangle pattern further supports this trend continuation. On March 28, 2024, the price broke out of the symmetrical triangle pattern with a bullish full-body candlestick, affirming the bullish sentiment. Subsequently, an inside bar pattern emerged, and the recent breakout above its high suggests a potential upward movement toward the first target area. A retracement to the previous resistance zone is anticipated after reaching the first target, followed by a potential push toward a new high or the second target.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY."
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Trade active
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Still moving above the pattern, we still have positive outlook on this one
Comment
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Breakout Base with an impulsive candlestick, signifies a possibility of upward movement
@financialfreedomgoals101 I think now you have realized that your analysis was wrong rather than mine.
financialfreedomgoals101
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@Abdullahicade, i don't even care that much, i always open myself to any results and I'm not an emotional trader as you are
Abdullahicade
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@financialfreedomgoals101 hhhhhh, the fact is that you are an emotional trader (gambling), and I advise you to learn more deeply about the financial markets.
OJ2003
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@Abdullahicade the funny thing is that this trade could still potentially still go up so your just here hating for no reason
Ochlokrat
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I agree and am with you :)
financialfreedomgoals101
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@Ochlokrat, Thank you for the support, let's ride the bullish wave. hopefully, it will hit the target :D