As we enter the last 2 trading days of the trading week, I am looking at the GBP/USD pair which we have been trading for the past 3 days, we also have a very nice setup on the USD/CAD, EUR/USD and lastly the CAD/JPY.
A quick Follow-up on the GBP/USD Long Trade.
We have reversed the position at 1.2448 a test of the structure 2.
Technically, the trend is still down and a failure to trade above the structure 2 makes the GBP/USD still bearish.
The last Bullish wave 4 to 5 has given us a short setup using the Fibonacci. This is a high-probability setup for a strong reversal (short)...
Today, we are focusing on the CADJPY chart as we observe the final stages of the wavestructure. The recent pullback from the previous momentum high (3) has formed a significant pattern known as the structural failure, indicating a potential shift in the trend.
Considering our trading rules, we have patiently awaited the completion of the wavestructure (5). Now,...
The GBPUSD picture shows a downward bias, but we need to complete the ongoing upward trend first. A bullish wavestructure has been observed, but it is not yet finished.
Based on the wave count, we anticipate a Higher High above the current day's high before considering a strong short position.
For a long continuation trade, a good entry point would be around the...
A quick update on the CADJPY Buy trade, expectation is for higher prices into the Sell Zone.
AUDUSD has rallied and this type of Rally is a BUY to SELL Setup. The Daily chart indicated that the long term sellers are now in the market and the move from Monday to the current area is a Pullback.
Sell is the Call and we will use .6754 as the stop loss.
Enjoy!
The CADJPY has been trading strongly since April 26th, 2023. There was a big increase on Friday and it continued today. However, based on our wavecount analysis, we believe that three wave structures have been completed and it's likely a good time to sell. We took a short position at 101.05, with a 10-pip risk and a target of the GM4A (100.64) of the fibo.
Enjoy!
Analysing the current trend and wave count in the short term in the EURUSD and the CADJPY.
The pairs have both made a significant decline in the past 24Hrs and based on the wave structures count, I believe these pairs are ready to correct upwards in the short term.
Enjoy!
A quick update to my CADJPY analysis yesterday, nothing has changed in terms of our initial bias which is Bearish.
Price has now progressed after another manipulation and Failure to continue higher.
We want to continue to be bearish below 100.43
A break below 100.10 should accelerate the decline.
Updated Stop Loss is now 100.43.
Disclaimer: This is not financial advice.
Welcome back! Let me know your thoughts in the comments!
**CADJPY - Listen to video!
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Welcome back! Here's an analysis of this pair!
**CADCHF - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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