Price broke the Strong Support Area and pulling back. Still on Bearsish
Buy to the trendline.
Price seems trying to break the Resistance.
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A bearish deep crab setup for a trend trading opportunity on the daily timeframe.
Having this countertrend setup on the 4-hourly timeframe does stage a great trend trading opportunity for the higher timeframe.
Hello and welcome to my Trade Idea of the currency pair CAD/JPY.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is bearish.
Weekly: The weekly timeframe is also bearish and 5 weeks ago a very big bearish candle has closed.
Daily: On the daily timeframe we see a consolidation.
H4: We draw the counter trendline on the h4 timeframe...
CADJPY is currently showing potential to make another bearish move, Entry has been marked at 80.838 and target is marked at 76.164 , our stop loss is marked at 82.851.
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CADJPY Sale Trade.
Note: This is only for Educational Purpose this is not Investment advice.
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CADJPY reversed off its resistance at 81.38 where it could potentially drop further to 80.250.
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broken 4h EMA
top of descending channel
(usdcad looking like a nice long trade)
entry at retest of broken support
sl 50 pips as its a swing trade and it might pop up one more time to take out sellers
CADJPY 60 Min
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on the weekly CADJPY is making lower lows and lower highs, now the market has pulled back creating a new lower high at a downTrend Line leaving a wick behind at a Supply zone, the market has still room to go till it hits its major support level.
Now on the daily you can see much clearly the Supply level and the market has created a Bearish Candlestick Formation...