Price is facing bearish pressure from our first resistance and Ichimoku cloud where we can expect a further drop to our first support level at 82.69 (horizontal pullback support, 61.8% Fibonacci retracement). RSI is also seeing a bearish exit.
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Losses can exceed the initial investment so please ensure you fully understand...
Chart is an expectation of market setup via harmonics. Also good to observe that market formed a double top between A and C which is considered a sell signal.
Market already selling from/on target C. You can join the sell to D as there still money to be made.
There may be some retracement up before market gets to D. This will be good for entry to D;
there are short opportunity when patterns complete
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and...
Chart time frame - H4
Timeframe - 4-12 Hrs
Actions on -
A – Activating Event
Market will meet resistance in zone @82.68 - .... and fall to the 82.200. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @...
CADJPY is currently in a decision zone (Zone 1), If we see a downside breakout of Zone 1 (80.000) level i will be targeting Target 1 (77.000). If we see a reversal pattern i will be buying the pair to Target 2 (85.000).
Note: This is a long term trade based off the 1D chart, use small lotsize.
Symbol: CAD.JPY - Canadian Dollar / Japanese Yen
Predicted Direction: Short
CAD.JPY - Canadian Dollar / Japanese Yen updates will be available in the comments section below as price-action develops.
cadjpy is forming a nice bearish flag, look for one more impulse to the downside! if price is aggressive we can hold longer term! news on cad will show us if we can hold or not make sure to manage correct.
this pair has been taking its time recently but i can see another sell impulse pumping. catch it before its too late.
See previous analysis
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