Welcome to our Trade Setups - May 19th ( CADJPY ) !
SELL CADJPY
ENTRY LEVEL @ 89.739
SL @ 90.734
TP @ 88.745
Max Risk: 1% - 3%!
Risk/Reward Ratio: 1
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A medium/low probability to go short has been given after the market failed to create a higher high, suggesting that we may see some bearish pressure at the given levels.
Expectancy: Short term
Idea: Possible bearish wave
Previous accuracy: 70.27%
Trail: 90.346
Sl: 29.1 Pips
Tp: 295.8 Pips
Caution, trade may be invalid if a higher high is created.
The 4H TF is bullish so I patiently waited until a pullback. Then I plotted support and bought when price touched it. Of course I didn't forget buying when the stochastic crossed on the lower TF (1HR) which was my trigger entry. Stop loss was set at -15 pips
All that and I still got stopped out before price magically went my way.
Nothing more frustrating...
Disclaimer: Idea is to complement your research.
With CADJPY Short for Bias, JXY (Japanese Yen) has to Pass 91.56 WITH Upside continuation for Upside targets.
Keep in mind:
A Weaker CAD and a Stronger JPY will Bear CADJPY.
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Disclaimer: Idea is to complement your research.
With CADJPY Short for Bias, CXY (Canadian Dollar) has fail at 82.78-87.29 zone.
Currently Price is testing 82.78 Resistance;
A rejection to the Downside could see a Test of 79.7-78.16 zone (Previous Resistance for New Support).
Keep in mind:
A Weaker CAD and a Stronger JPY will Bear CADJPY.
Like this...
Hi Traders,
This is my view on this cross for the next few days.
#CADJPY
SELL 87.021
SL 87.64
TP 85.72
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to...
Ascending channel is formed in LTF the price might get rejected after 3rd touch and move down towards the previous swing point and then may continue to move upwards . We can take a risk entry at the 3rd touch with 15 pip sl and then hold till previous swing and can look for a buy after the rejection from previous swing with a good candlestick formation
This pair is also ready to go (down), right alongside it's other carry trade siblings - CAD/CHF, NZD/CHF, NZDJPY, AUDJPY.
All of these pairs a major Shorts, from here;
This one (CADJPY) ought to be good for ~500 pips from here.
Here is the Short Entry off of the 4 hr.;
CADJPY is moving fast up. It has surpassed the 89 marks and it is probable to rise until 90 soon. We will be monitoring the opportunity looking for longs.
Note: Idea is to complement your research.
Check comments section for future updates on idea.
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Thank you, Happy Trading.
TP - 84.421
ANALYSIS - Possible Double on 15 minute chart. Top around 89.14. Expanding Pattern within Expanding Pattern followed by Double Top on the Weekly Chart as well.
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.
Hello fellow traders, if you like the idea, do not forget to support with a like and follow.
DISCLAIMER
________________
Forex trading and trading in other leveraged products involve a significant level of risk and are not suitable for all investors.
THIS IS NOT IN ANYWAY AN INVESTMENT ADVICE! DO YOUR OWN DUE DILIGENCE BEFORE TAKING ANY TRADE.
