CAD-JPY was trading in a bear pennant pattern
Now, we are seeing a bearish breakout
And because I am bearish biased on the pair
I think that we will see bearish continuation
CADJPY SELL LIMIT
SELL @ 101.000
Tp @ 99.000
Sl @ 101.620 ( Back above trendline)
Price has broken trendline and is currently in a downtrend and is retracing creating a bear flag pattern. ( . Expecting further CAD weakness soon ( see link below ) & possibly JPY strength after a retest of the support zone ( see JPY INDEX analysis in the group) which will push...
SELL @ 98.400
Sl @ 98.735
TP @ 96.200
CADJPY has broken trendline and has retested + rejected the structure zone a few times. I expect 1 more touch as CAD index still has a tiny bit of space left before reversing.
Expecting CAD weakness and JPY strength soon. JPY index seems like its lost its bearish momentum and is floating around at a structure level, we may...
Hello Traders,
Hope you are having an amazing week.
Above is my analysis on CADJPY , overall perspective is very BEARISH .
Expecting this level of supply to hold !
Always move stops to breakeven after +25 pip moves
Looking forward to see how this plays out.
Thank you for your support,
ETGL TEAM 💛
CAD-JPY broke a horizontal resistance
And you did it in a powerful way
But backtracking and correction is inevitable
And we can see that the price has almost arrived
Increased resistance to a narrow wedge at 95.00
So I think after the retest
We will see a drop to 91.7
Hit 1st TP which i posted on here yesterday.
2nd entry on break of trendline ( black dotted line)
Entry @ break of trendline or 92.000
Stop loss @ 92.210
Take profit @ 91.000
CADJPY has broken trendline and should drop further now. It is also oversold so its due a pullback. CAD INDEX has rejected trendline a numerous times on the 4hourly candle and seems to have lost its bullish momentum. JPY index has reached a structure level and seems to have lost its bearish momentum. It has also created an inverse head and shoulder on the daily...
CADJPY has broken trendline and should drop even further now. It is also oversold so its due a pullback. CAD INDEX is also respecting trendline and has rejected it numerous times on the 4 hourly candle. JPY has reached the structure level and looks like its lost bearish momentum and has created a inverse Head and shoulder on the daily chart.
SL @ 92.640
1st TP @...
Stop loss 92.330
Take profit 90.000
JPY index close to structure zone where i expect a strong bounce + strength during next week specially during the 1st few days.
CAD index had a strong rejection off the trendline which also lines up with the structure zone.
CADJPY reached the highest point since it started consolidating ( 4 hourly timeframe) and is now...
Stop loss @ 92.330
Take profit @ 90.000
JPY index close to structure zone where i expect a bounce + strength during next week, specially in the first few days.
CAD index had a strong rejection off the trendline which also lines with the structure zone.
CADJPY also reached the highest point since its started consolidating ( 4 hourly time frame) and is now...
Posted this on Thursday, hit TP by friday 🤑🤑
Luckily we got a flag pattern towards the structure level once it broke so we got a 2nd entry aswell.
1st entry = 185pips
2nd entry = 90pips
Got another setup ready for this which i expect to be active midweek ( maybe wednesday depending on market conditions )
