Note : waiting for the rejection candle to appear ;)
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Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the...
Price broke the descending trendline which looks to be a strong one.
Head and shoulder formed at the end of the downtrend.
Price started making HL & HH
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We gotta breakout setting up as it is completing a triangle.
I want to see this breakout happen this week.
Both targets have been set for whichever direction it takes once it's ready for takeoff.
BULL TPS:
• 82.239
• 82.479
• 82.753
• 83.230
BEAR TPS:
• 81.523
• 80.926
• 80.640
Gooday Traders! From the daily timeframe, CADJPY has been in an ascending channel. Lately price has made a correction, broken and retested but encountered obstruction at 82.500. Price is almost at my ascending channel support. I'll watching H4 for further confirmation on whether my ascending channel support will hold.
Im however, looking forward to a longer buy as...
1) pink line : - very strong movement from this trendline after very long time price has broken this support it's time to see if price close above that support or below if close below than very good short opportunity
2) black line : - price moves in this channel and we can see it's also taking support on this black line if market has to continue we have a nice...
Price touched our demand zones last week.
We are waiting for more touches and hopefully a strong rejection candle inside our demand zone.
A good entry long would be inside our demand zone for better risk-reward ratio.
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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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