jmadrid.pom
Long

CADJPY SELL/BUY IDEA

FX:CADJPY   Canadian Dollar/Japanese Yen
17 0 0
MONTHLY AND WEEKLY CHARTS SHOW PRICE TO BE COMPLETELY OVERSOLD AND AROUND MAJOR TREND LINE. RSI , STOCHASTIC AND MACD SHOW PRICE TO BE OVERSOLD IN MONTHLY AND WEEKLY CHARTS. THIS PAIR WILL BE BULLISH OVER A FEW MONTHS, I WOULD SUGGEST BUYING THIS PAIR AND HOLDING IT FOR A WHILE. DAILY, 4 AND 1 HOUR CHARTS SHOW PRICE TO BE IN OVERBOUGHT ZONES. ON 1 HOUR CHARTS PRICE HAS FORMED DOUBLE TOP, M FORMATION AND SHOULD SEE A CORRECTION DOWN FOR LESS THAN 24 HOURS. I AM EXPECTING PRICE TO HIT 61.8 FIB ZONE FOR AN IMPULSE ALL THE WAY BACK UP. ONCE 61.8 FIB ZONE IS HIT I AM EXPECTING PRICE TO MAKE HIGHER HIGHS AND BREAK PREVIOUS HIGH. ONCE 61.8 FIB IS HIT I WOULD SUGGEST BUYING AT THAT ZONE AND HOLDING FOR A WHILE AS MONTHLY AND WEEKLY CHARTS SHOW THIS AREA TO BE VERY OVERSOLD. THIS WILL BE A GREAT OPPORTUNITY FOR A SWING TRADE AND LONG TERM INVESTMENT. TRADE WITH CAUTION.
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