CADJPY is approaching our first resistance at 85.19 (100%, 61.8% fibonacci extension, 61.8% fibonacci retracement, horizontal overlap resistance) and a strong drop might occur below this level pushing price down to our major support at 113.96 (100% fibonacci extension, 61.% fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is also ...
CADJPY is approaching our first resistance at 85.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a strong reversal might occur below this level pushing price down to our major support at 84.31 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching ...
CADJPY , H4 chart we have Bat Pattern and ABCD around 85.75 level. will look for confirmation in LTF.
CADJPY , H1 , chart has a triangel pattern, wait for break and close.
Short on a possible and a potential bearish bat setup/pattern confluence on the daily diagonal resistance. Will it respect? or Break? There is more yet price/market action to come to validate this setup in the near future. We could also long market if we got a setup such as the CRT of the visible horizontal S/R. Trade with care.
The trend is short (sell), it made a retracement for buy, now is a good position for sell.
Trading mindset:
1. Enter If chance (analysis) is in your favor.
2. 1:2 risk/reward.
3. Using 1% risk.
In longer term it pays off very well and keeps your capital safe! (Breakeven: If you are correct 33% of the time, your capital is safe)
Adopt this mindset in order to be ...
CADJPY has been down-trending for a while now and looks set to continue lower as price continues to form lower lows and lower highs.
The key when looking for the next phase to take place is the size of the retracement. Typically what you notice when a market continues lower, is the size of the candlesticks in the retracement phase.
If the candles are large it ...
#Cadjpy is within it NFP range since release on Friday! 84.30 Low @ 84.90 High under Test this minute. Bulls want 86.30. Test due now to break the range, bulls moderatly in Control
Cadjpy bullish run will start as we head to make higher highs on daily time frame. This'll be a long term swing trade, this is a trade we can hold for some time!
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1 Day
Actions on -
A – Activating Event
Currency Pair creating a Double Top.
B – Beliefs
Market will be rejected at @84.82 level and move towards the first Target 1 level @ 84.3 level.
FX:CADJPY
Trade Management
Entered @ 84.82
Stop Loss @ 85.14
Target 1 @84.3
Risk/Reward @ 2:1 ...
CADJPY is approaching its resistance at 85.199 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 84.41 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is may occur.
CADJPY is approaching its resistance at 85.13 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse to its support at 84.56 (61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
The Canadian Dollar vs. the Japanese Yen. When a trader is unsure about trading the US Dollar, the CADJPY is often determined to be a suitable replacement. However, the historically higher yield of the Canadian dollar in the past has made the CADJPY more sensitive to market wide sentiment changes than the USDJPY. Also, Canada’s large amount of energy exports, most notable oil, causes it to be affected by crude oil prices.
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