Technician

Watch this Pattern: CADJPY Daily H&S

FX:CADJPY   Canadian Dollar/Japanese Yen
1400 13 16
A potential head and shoulders with a neckline around 94.20, watch this if it breaks we will probably retest the lows.

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moneymaking
2 years ago
Hey technician, so if we break and close below the neckline, then a valid entry would be after a retracement back to the neckline?
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Technician TOP moneymaking
2 years ago
Yes mate, i would do that
Reply
moneymaking Technician
2 years ago
Thanks and Good Luck to you :)
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Realisto_FX PRO moneymaking
2 years ago
Hi moneymaking, another way to proceed is to enter @ mkt , with a smaller lot size and add shorts in the retracement. This guarantees you don´t miss the train . This is a clear bearish trend
snapshot
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Added to your analysis, the past seven days trading range is inside the 18MAR trade range. Pretty interesting consolidation, and accumulation of momentum if it closes below the level you defined.
+1 Reply
HiTech PRO
2 years ago
Just had my confirmation on the short, though would be nice to share :)
CADJPY SHORT TRADE SETUP
+1 Reply
MuathAlBulbul
2 years ago
Neckline almost broken, waiting for an update!
Reply
No confirmed breakout yet, price formed a long legged doji, possibly rebounding higher
snapshot
-1 Reply
HiTech PRO Technician
2 years ago
very strong resistance at 95. that is holding so far, no signs of an uptrend yet
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HiTech PRO HiTech
2 years ago
snapshot
+1 Reply
HiTech PRO HiTech
2 years ago
holding
snapshot
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tcas
2 years ago
I'm in long position after perfect daily pin bar with good resistance level.
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Technician TOP tcas
2 years ago
sounds rational. as i said earlier it looks bullish.. Good luck
-1 Reply
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