VitruvianTrader
Short

CADJPY Bearish Analysis

FX:CADJPY   Canadian Dollar/Japanese Yen
19 days ago
Running into some fib confluence at an important structure zone on the daily. Fib inversion and fib extension.
Will see how this develops. Possible double top.
Will see if price action on lower time frames shows that bears can take control of this market.

If we break and close above the 82.25 level we could breakout to the upside, with a lot of room for bullish action.
16 days ago
Comment: I am short here.
My stop is at 82.55 my targets around 81.
Lets see if the 1618 holds.
1618 is usually a great deciding point, it holds and reverses or its breaks down and confirms the trend direction.
16 days ago
Comment: Back to back rejection candles on the 1H RIGHT off the 1618.

snapshot
16 days ago
Comment: RSI divergence
snapshot
16 days ago
Trade closed: stop reached: Stopped out with minimum loss. Tightened stops because of close over 200 DMA on daily.
Will wait for an opportunity to go long
14 days ago
Comment: Glad I saw the price action, tightened my stops and got out with very insignificant loss. Ability to adjust and not be close minded on your position is key. Like I said in the original post, close above 82.25 and 200DMA would see bullish action. Great to see this result verified. We even retested the level for a chance to get involved, although I was not able to participate. Being correct in an analysis is more important than making money.
The_Duke
16 days ago
Its hanging around that point isn't it.... teetering
Reply
VitruvianTrader The_Duke
16 days ago
tightened my stop , because on the daily we closed above the 200DMA @The_Duke,
Reply
The_Duke VitruvianTrader
16 days ago
@VitruvianTrader, Yep, looks like it's fighting its way up there.
Thanks for the heads up.
Reply
The_Duke
13 days ago
Good analysis @VitruvianTrader
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out