Few hours prior the BOC Interest rate statement we find CADJPY hovering above a major support level 90.300 ,aided with 61.8% of the fibonacci retracement which portray an strong demand zone with bullish confluence.
In my opinion this is still long.. The structure of price is yet to be broken and if you look at this properly you will see a higher high was created and a choppy retest is taking place.. TREND IS YOUR FRIEND
Clearly respecting dynamic support Bullish market structure, higher highs and higher lows Wick rejection of 61.8 Fibonacci level, indicates potential impulsive move to upside Anticipating push towards Fib extension based target of 91.64, 1:5RR with 2% risk
CAD performed a flag pattern this past week and a half, showing some back and forth between buyers and sellers. Will the long position hold? Not sure, but I see a good buy set up - be it short or long term. If you'd like to participate in this trade idea, please use proper risk management.
Liquidation is finished. CJ is ready to fly, unless she has to range a bit more... :)
small wadge shows that bearish market too 88.88 as a short target and too long position market sentiment is bullish too 91.71
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Caught a late play but still potential for profits as Bullish engulfing candle broke out and closed above Golden zone. Giving strong bullish signal. TP & SL indicated in chart.
The 4H TF is bullish so I patiently waited until a pullback. Then I plotted support and bought when price touched it. Of course I didn't forget buying when the stochastic crossed on the lower TF (1HR) which was my trigger entry. Stop loss was set at -15 pips All that and I still got stopped out before price magically went my way. Nothing more frustrating...
💡 Trade Idea 📈 CAD/JPY Buy Market Order @ 90.19 🎯 Target Profit 90.50 🛑 Stop Loss 90.04 ❌ Do not risk more than 1% of your account on each trade 🙂 Good Luck! Description: The pair is trading inside bullish flag where it is heading toward an area of confluence. This zone is made by a strong support, the 50% Fibonacci retracement level and the lower end...
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
CADJPY we have up trend and demand level we see pullback from 1.618 entry now SL : 89.60 TP : 90.45
💡 Trade Idea 📈 CAD/JPY Buy Limit Order @ 90.16 🎯 Target Profit 90.76 🛑 Stop Loss 89.96 ❌ Do not risk more than 1% of your account on each trade 🙂 Good Luck! Description: The pair is trading inside a bullish flag formation where the pair is heading toward the area of confluence which is made by a strong support, the 38.20% Fibonacci retracement, and...
Technical Analysis: The price is trading inside a bullish flag formation where the pair is moving to the downside by retracing toward the area of confluence. This zone is made by the 38.20% Fibonacci retracement level, the support, and the lower end of the channel. This could cause a huge move to the upside toward our target profit....
Technical Analysis: The price is trading inside a bullish flag formation where the pair found buyers around the 61.80% Fibonacci retracement level and led to a breakout of the flag formation to the upside. Now the price is stuck above the highlighted zone where we could see a rally again toward the target...
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions