CADJPY - Short Idea1 POSITION:
Sell CADJPY at 87.230
SL: 89.230
TP: 85.230
2 POSITION:
Sell CADJPY at 87.830
SL: 89.230
TP: 85.230
Cadjpyidea
CADJPY short trade ideaPlan: support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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GWBFX
CAD/JPY Time for a reversal?Hi Traders
CAD/JPY (H4 Timeframe)
A medium to high probability, entry to go SHORT is forming @ 83.071 after the market found resistance @ 83.928. Only the upward break of 83.928 would cancel this bearish scenario.
Trade details:
Entry: 83.017
Stop loss: 83.928
Take profit 1: 82.480
Take profit 2: 81.569
Take profit 3: 80.084
Score: 7
Strategy: Bull Trap
CAD/JPY Retraced, Chance To LongI'm already long on this since 82.360, there were posts made when price was at that level. But if not in the trade there is now an opportunity for a smaller trade. Price has retraced to a support level and if it rejects then longs can be entered up to the same target price as mentioned in previous posts of 84.571. SL just below support and 0.5 Fibonacci
BUY BUY BUYHello tea, price has been in a bullish trend for sometime now. looking for trend following trades is key to always following the trend.
CAD/JPY Retracing to Support, Another Chance to LongAlready long on this but it is currently retracing which offers those not in the trade another chance to enter. Enter once price reaches support, target is the same at 84.571.
Bearish Shark PatternCADJPY BEARISH SHARK PATTERN
Market Sell Order Set Up.
Sell Entry: (82.685)
Min Take-Profit: (81.929)
Max Take-Profit: (81.330)
Stop-Loss: (83.209)
Max Risk-Reward: (2.59)
Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
CAD/JPY BreakoutThis is breaking above a resistance level. Safest entry is to wait for a retrace that tests this level as a support then long to the target of the next high. Although it is still very bullish on MACD on 4HR and daily so this could easily continue to rise from here.
TP - 84.571
SL - 81.667
CADJPY LONG OPPORTUNITY (READ BEFORE U BUY SNIPER ENTRY)We are expecting CADJPY to buy from the support zone let's be reactive and not predictive
CadJpy- to maintain its familiar range82.00 zone is very strong resistance for CadJpy and I expect this to offer a ceiling for the pair going forward.
The rise from 78 is also in a rising wedge pattern and a break under 81 would expose this bottom of the range.
I'm looking to sell this pair
Bearish Gartley PatternCADJPY BEARISH GARTLEY PATTERN
Market Sell Order Set Up.
Sell Entry: (82.000)
Take-Profit 1: (81.721)
Take-Profit 2: (81.530)
Stop-Loss: (82.300)
Max Risk-Reward: (1.57)
Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
Bearish Bat PatternCADJPY BEARISH BAT PATTERN
Market Sell Order Set Up.
Sell Entry: (81.874)
Take-Profit 1: (81.279)
Take-Profit 2: (80.847)
Stop-Loss: (82.400)
Max Risk-Reward: (1.95)
Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
CADJPY, take a closer look, longCADJPY go for long!
+Breakout trend line
+ Strong Support
+ Price action tells further above!
CADJPY Up ChannelWe can see market is going up in a up side channel. so it may test its previous support and then will go to resistence.
CADJPY { SWEET AND MASSIVE OPPORTUNITY}CADJPY from the daily perspective the price has already tested the resistance plus it was moving in Ending diagonal pattern, we are looking for selling opportunities
CADJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of CADJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 50 - Dec 07
M > Market has respected downward resistance trend-line in past and price has approached the trend-line to test the same, current price level also coincides with monthly resistance. We can expect a rejection to the downside.
W > Price has approached the monthly resistance for the 5th time since June 2020. It had dropped till 0.618 Fib level, creating a major support structure there. Will price make a drop to test that key support again? Yes it is possible in long term.
D > Market has shown some volatile impulsive bullish moves with similar bearish moves. Price is now testing monthly resistance and we can expect rejection.
As per COT CAD closed Long and further added Short positions, reducing net positions, however cumulative net position with N-R has improved. CXY strengthened during the said period and after testing monthly resistance it further gained strength last week and is now testing next resistance level. We can expect correction for CXY to the downside as strong bearish divergence can be seen. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week.
With expected weakness for CXY and strength for JXY we can expect drop for CADJPY this week.
4H > We can see loss of momentum currently with upper rejection wick. Market closed the week with rejection at current level however closure of 15 M candle was bullish. We will monitor price action on lower timeframes for a bearish direction and good risk to reward Short entry.
Recommendation > Keep a watch for intraday gains volatile bearish and bullish moves.
Pair Correlation > CADJPY has positive correlation with EURJPY and negative correlation with USDCAD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
