plancton0618
Short

CADJPY testing the 0.f fib level

FOREXCOM:CADJPY   Canadian Dollar / Japanese Yen
After our last call on this pair (link below) we make a new analysis on this pair.
On the monthly chart, we can see that price is moving inside a descending channel that shows us a bearish major trend.
The price on the daily chart could not make new recent highs, creating a double top and started a retracement move that got back till the 0.5 Fib level.
At this stage being also the level a quite strong support, we can expect a bounce till the 0.382 level before a new test of the support.
IF and only if the price will break below the 78.300 area, we can set a nice short order according to with Plancton's strategy.
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Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.


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Comments

thanks for sharing, awesome work! this is what I see on CADJPY:
+1 Reply
@FXCM, Thanks for sharing your vision with us
Reply
nice idea
+1 Reply
plancton0618 PolarHusk
@PolarHusk, Appreciate it
Reply
perfect overview and overall strong presentation. good deal!
+1 Reply
plancton0618 ProjectSyndicate
@ProjectSyndicate, thanks for the support
Reply
Nice analysis buddy
+1 Reply
plancton0618 vortextrade
@vortextrade, thanks mate
Reply
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