CADJPY 4H Short opportunity as the prices are moving corrective on 1H which shows no intent at the moment for the buyers to push prices higher. Mean while it is a all time frame counter trend trade and have to make sure the Risk amount should be 0.5% of your equity.
Risk Management should be fully implemented while taking short positions on this setup.
Hey traders, here is the analysis for the CADJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
As we can see
cadjpy had strong bullish because he just breakout resistance (before)
and now we can see the possibility is he making some pattern reversal
we just waiting on the resistance area , and find some confirmation to IN (short)
if u guys have any idea u can comment below
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Everything on the chart.
targets: 87.35 - 86.7 - 85.9
after first target reached move ur stop to breakeven
stop:~88.4 (depending of ur risk). ALWAYS follow ur RM .
risk/reward 1 to 4.5
risk is justified
Good luck everyone!
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Our trade setup on CADJPY based on Elliot wave theory.
Please watch the Chart carefully to implement the idea on your trade.
if you have any questions please comment below.
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Next let's analyse this CADJPY.
In weekly perspective, this pair forming HL after breaking downtrend journey. In additional of good fundamental from CAD.
In hourly perspective, this pair forming a correction which is to gain more momentum before continue journey. As human behavior really affecting market movement, am expecting today price will be...
Am looking to go short on CADJPY, CADJPY has been on a steady uptrend breaking all key levels and now finally after a big rally up price is now sitting on my institutional level with good price action showing that price is ready to make a pause and make a retracement..
CADJPY in a daily supply level. Drop to the M15 time frame looking for the reversal. Trend rotation confirmed in the lower time frame and new supply identified offering a 4r for the setup
So lets wait for price to test this M15 supply and be rejected. 4R on thus setup
As we see a strong BULLISH movement upward, price is reaching closer to a 461.8% fib movement. Also, there is a strong resistance level @88.86 price level where I expect some BEARISH pressure on this pair. We could be eyeing for a potential short position from there towards 361.8%. If the BULLISH strength remains, we should see a rejection there, brining price to...