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CADJPY is broke out of our short term pullback support line and is approaching our first support at 83.85 (horizontal swing low support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 84.93 (78.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (34,5,3) is also approaching our...
CADJPY is testing its resistance at 84.21 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal could occur, causing price to fall to its support at 83.08 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
Sell below 84.21.
Stop loss at 84.97.
Take profit at 83.08.
Reason for the trading strategy (technically):
CADJPY is testing its resistance at 84.21 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 83.08 (61.8% Fibonacci retracement, horizontal overlap...
CADJPY is approaching its resistance at 85.24 (100% Fibonacci extension x2, 61.8% Fibonacci retracement, horizontal swing high resistance) where price could react off and fall to its support at 83.17 (61.8% Fibonacci retirement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
CADJPY is approaching our first support at 83.09 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 83.98 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also seeing a...
Hi guys,
not so much on my charts these days (at least for my eyes), but i've been able to find this nice setup on the hourly chart. It's a bearish bat formation that's going to complete in a strong structure level (both daily and 4H) and i'm going to get in as soon as the price will touch the D completion point because of the higher trend and because it's a nice...
CADJPY is testing its resistance at 85.04 (50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse and fall to its support at 83.12 (horizontal swing low support).
Stochastic (89, 5, 3) is testing resistance at 94% where a corresponding reaction could occur.
This trade doesn't exist yet. It would be a larger peak reversal coming off a smaller H&S that's working off the monthly. It's a big money trade if the 4H bar closes in the right position. Also, you'll only make money on it if you hold or get out at the right time as CAD news is released. Some people don't care about news except NFP or interest/bank big ones....
CADJPY is approaching its resistance at 84.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a potential react could occur, causing price to fall to its support at 80.58 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reaction could occur.
Trading CFDs...
CADJPY is approaching its resistance at 84.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a potential react could occur, causing price to fall to its support at 80.58 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reaction could occur.
CADJPY is approaching our first resistance at 85.06 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 83.07 (horizontal swing low support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line...
CADJPY broke out of our short term ascending support line is approaching our first resistance at 85.13 (horizontal pullback resistance) where price could potentially react off this level and drop to our major support at 80.58 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also...
CADJPY broke out of our short term ascending support line is approaching our first resistance at 85.13 (horizontal pullback resistance) where price could potentially react off this level and drop to our major support at 80.58 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also...
