The key candle in the H4 timeframe gives us a hint of strong presence of bears in CADJPY under 87.90 levels. Price action strategy applied to identify this Sell opportunity. Sell at the market price 87.70 until 87.90. Target 50 to 75 pips on this trade.
A few days ago I shared CADJPY analysis indicating a bearish pattern on H4! Today I want to share the same analysis on the Daily timeframe! Price is approaching to daily trendline resistance zone! At the same time price approaching a key supply zone! Failure to break above the zone will be an indication that bears are about to take over!
Right now price is in an ascending channel. I am looking for price to break this channel to the downside reaching for those previous lows. Wait for breakout of channel get in on the first flag created on the lower timeframes.
#CADJPY Market has fallen from falling resistance,Again a selling oppurtunity.
After checking different scales and comparing MACD and RSI seems that we have under A wave correction from Elliott's teory, so lets prepare our shorts ONCE wave B will be finished.
Price approaching resistance area, would be looking to sell the pair if I see a proper rejection off this area follow by other bearish confirmation such as the bearish engulfing candlestick.
Is it bears turn after long bulls dominance? On H4 timeframe we have a bearish pattern which might be an indication for bearish movement on CADJPY!
The pair is currently ranging between 87 and 87.4, there is a big trendline approaching which could start the retracement of this pair, if a bearish trend does appear it would be closer to the downtrend and near resistance levels, the pair can go to 85.8 as a first target and as a 2nd target to test the lows of 84.8 one more time.
🇨🇦 CAD - Strong Bearish 1️⃣ Risk-off sentiment and declining oil prices weighing on the CAD. 2️⃣ Canadian GDP shrank 0.3% on quarter in Q2 2021. 3️⃣ Canadian trade balance for July is expected to decline. 🇯🇵 JPY - Strong Bullish 1️⃣ The JPY benefits from a risk-off market environment. ===== Technical ===== We are selling the CADJPY after it failed to break the...
adding more sells 87.4 is my stop on all positions got a few nice set ups this week hopefully be ready tomorrow
CADJPY a lot going on this week in terms in my testing phase on the trades im watching again these are not trades for you to take if you follow me but something i'm putting into place for what i'm testing on serval techniques i have learnt over the years lets see how it plays out what are your thoughts............?
cad jpy was in bearish momentum and went down to the 84.400 very strong demand level and cane back to 87.100 for a retest look for bearish confirmation on lower time frame and enter short with your own money management always remeber patience with discipline and money management is the key to success
We will most likely see CADJPY continue to head lower after having a strong reaction to the HTF confluence area.
SHORT CADJPY @ 87.40 TP @ 85 SL @ 88.55 I have decided to sell CADJPY prior to Jackson Hole on Friday as I feel that USDCAD is reaching support lvls and will rip soon. If that is not the case and the USD decides to sell off, well then USDJPY will push lower driving CADJPY lower. We also have key resistance and pivot lvl at 87.40 this making it a good entry for...
I expect accumulation around 87 to 88 zone then a dip
Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (87.12). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a...
Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (87.12). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as...