FX_IDC:CADJPY . Double Bottom @monthly&weekly support; . The Neck @ weekly resistance; *Double bottom is only valid if the price break the neck; . Bullish impulse: - IF this is the 3th wave, it "should" terminate around the 161% extension, close to the neck, and then a small pull back expected that can't cross the top of wave 1 forging wave 4, and... wave...
TECHNICAL ANALYSIS
Overall trend is down however ; Stock RSI crossed and moving higher RSI made a flat low & price made a lower low Pair has started moving so 80.85 holds and price allows for proper Reward:Risk, buy for moves into 81.80 and potentially 82.30 In reversal - below 80.80 3x reverse for moves into 80.60 for break-even or 80.40 for some profit
TRADE TRIGGERED ENTRY ON FRIDAY........LOOKING FOR A BREAK OF TREND, NEW HIGH & CONTINUATION......
Earlier I posted a CADJPY target for a SHORT, which did not meet its target. At this point, price has broken ABOVE and closed hourly above the downward channel resistance. With observance of a bullish divergence in RSI with price, a loss in selling momentum is seen. The CAD has depreciated the most in the past weeks, and is heavily oversold. Also, the JPY has...
FX:CADJPY Safe Trades;
short term trade, hit rate 65-70% if confirmed on breakout.
AB = CD with RSI oversold. SL = 82,10 TP1 = 93,22 TP2 = 98,266
FX:CADJPY CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trades;
A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76
CADJPY appears to be correcting in what looks like a possible bearish flag pattern on the larger TF's. However we have not seen any signs of reversal as of yet, the pair has not made a lower low, The current wave count in the pair is calling for one more high towards the 95 area - as long as the previous wave (X) is not breached at 90.53, making this a low risk...
FX:CADJPY Buy when/IF completed ® GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
Gartley pattern very close to the second target at 61.8% from AD leg, very close with the point D target for Bat pattern, both right above support price zone; Now, IF we get point D for the Bat pattern, and IF we get a retracement at 61.8% (2nd target, TP2), we know that the price can forge an AB=CD pattern, with target (pink Point D) synced with previous...
TRYING MY HANDS ON MORE PAIRS NOW THAT THE MAJORS HAVE BEEN PERFORMING BADLY FOR ME. RECENTLY REJECTED FROM 100.00 ROUND NUMBER RESISTANCE. THIS PAIR MAY SEE SOME CORRECTION TO 97.00 OR EVEN 96.00. A TRADE WORTH LOOKING OUT FOR NEXT WEEK.
CADJPY recently broke through resistance @ the 96.80s, a level that was tested multiple times as recent as Friday.I'm hoping we see one more test before resuming to the upside. BUY @ 96.80s SELL @ 98.40s STOPs below the next level of resistance @ 96.40s