CADJPY kindly like and share the setup waiting for breakout downwards
Price is trading at the resistance line from the hornet formation and currently forming an H&S where the right shoulder is still under configuration. Once the right shoulder is done, it can confirm downward movement into the pair. Short play can be taken only after the break of the neck's pattern and retest of the level for confirmation. The order: Type:...
The counter has recovered from the lows with a strong V-shaped rally. It has now crossed a critical resistance level of 80.162. The structure resembles a bearish shark pattern and we expect the pair to rally to the completion zone for now.
The price action has shown a rally in the intraday, clearly in the overbought are by the RSI, and together with a clear bearish divergence, it shows that the pair might reverse before further upward movement. The pullback should reach the golden Fib level for a healthy correction, allowing the setup of a long entry as a limit. The order: Type: buy-limit S/L:...
Just shorted CADJPY. Price seems to have made a lower high on the 15 min and there was a double top as well. This sell goes well with my 4hr bias for me to wait for it to drop to the 4hr higher low to go long. 1-3RR of course. Move stop to break even when price reaches 1-1RR.
CJ is making beautiful bullish market structure. CJ just made a higher high and is now pulling back for a higher low. Going to wait for price to either make a double bottom at the previous higher low or wait for CJ to break the higher high and retest for an entry. Target 1-3 RR minimum of course!
Price has been trading within a hornet pattern from the D1 domain, currently under a correction to continue its further uptrend bias allows the placement of a long entry, expecting the pullback towards the fib golden level 50 to fill the limit order with the following characteristics. The order: Type: buy-limit S/L: 26 pips - R:R | 1:3 - T/P: high from fib...
Hello my friend, There is a nice trade setup in CADJPY which could give us a worthy RR. I notice a bearish flag on the daily timeframe of CADJPY. Price already broken below the support as well. Right now price retrace up to 61.8 fibonacci level and this is actually a nice area to try selling it. I am going to play patiently on this pair and waiting for price to...
The Canadian dollar is showing a clear bullish bias across the board. Now, CADJPY at H1 is under consolidation, where expected pullback towards the 200MA to confirms an uptrend movement towards the resistance level. A buy setup is placed with the following features. The order: Type: buy-limit S/L: 30 pips - R:R | 1:2 - T/P: resistance level -- *** If you...
CAD/JPY has recovered from the low with a strong V-shaped rally, which is a sign of reversal. Further, the could interpret it as an ABC correction. Hence, we expect the pair to trade with bullish bias from here.
Here in CADJPY i'm waiting to buy it from its support as it has made base area at bottom which is sign of buying from the bottom (support zone). So we have to wait till it fall to support area & buy it. On LONG-TERM it will strengthen till the up end which almost takes a whole month..... I HOPE THIS HAD GIVE YOU A BETTER IDEA ABOUT CJ .. PATIENCE is the KEY of...
Wait for price to break above resistance then buy to next resistance level
After the price reaching the ascending trendline, it got a rejection from the level, and it is currently struggling with a resistance zone. Now, expecting that price get enough momentum to break it on the uptrend bias, a buy order is placed with the following features. The order: Type: buy-stop S/L: 30 pips - R:R | 1:2 - T/P: aiming towards a confluence level...
CADJPY is now at its strong resistance zone and according to the fundamentals CAD is expected to be strong and breach the resistance level at point 79.65. on other hand JPY is bearish as well. This analysis is fully based on behalf on Technicals. Take the entries from this analysis only if all the rules of entry are fulfilled. Do comment below if you need any help
Although MA's are about to form a triple golden cross, signaling an uptrend momentum, price action is currently retesting a broken ascending line, reason why if the price gets enough rejection, it could present a bearish opportunity with this pair. The order: Type: sell-stop S/L: 18 pips - R:R | 1:2 - T/P: aiming towards the support level -- *** If you like...
Price structure has formed clear LH, compressing prices into the triangle formation. Trading below the 200MA allows the perfect setup for a short entry. The only concern is about the news release late at 10 pm (GMT+8), which can dramatically change the Canadian dollar's bearishness. Hold tight risk management in place. The order: Type: sell-stop S/L: 30 pips -...
The counter is currently consolidating in flag pattern after a strong sell-off. It could be interpreted as wave 4 as well. Further, the pair is finding resistance at higher levels. Hence, we expect the pair to move lower to complete wave 5.