Hello guys,
here is my chart on CADJPY. Overall, CADJPY is in a beautiful uptrend since that TRUMP ELECTION in november 2016. Retracement been seen for a few weeks now and is about to go back up. We can see the CADJPY is currently going down and will go re-test the previous broken level.
I am not expecting a lower low from the 80.500 level. There is a clear BUTTERFLY PATTERN that will complete around 83.800 and there is also a possible BAT PATTERN that will complete just a bit upper from the last low at 80.500 level. I will have 2 buy limits sets at both pattern completion.
If we take a look at our left we can also see a HUGE inverted H&S. We can see that it would also be a second re-test of the right shoulder! Meaning that big upper movement is in formation.
Let's lock our entry and be patient!
Trade with care,
PC
here is my chart on CADJPY. Overall, CADJPY is in a beautiful uptrend since that TRUMP ELECTION in november 2016. Retracement been seen for a few weeks now and is about to go back up. We can see the CADJPY is currently going down and will go re-test the previous broken level.
I am not expecting a lower low from the 80.500 level. There is a clear BUTTERFLY PATTERN that will complete around 83.800 and there is also a possible BAT PATTERN that will complete just a bit upper from the last low at 80.500 level. I will have 2 buy limits sets at both pattern completion.
If we take a look at our left we can also see a HUGE inverted H&S. We can see that it would also be a second re-test of the right shoulder! Meaning that big upper movement is in formation.
Let's lock our entry and be patient!
Trade with care,
PC