Here ive highlighted the area IMO are important before we see a bull run the those double tops!
Expect price to range between 1.81448-1.77454 with a possible dip to old lows 1.76417-1.75611.
Once these level are achieved you wont be waiting to long before this one flys.
Here ive highlighted the area i believe the institutions will target the coming week!
You can see the liquidity pool sitting around 0.68700-0.69694.
Also can see highlighted green possible retracment .
I show these weekly charts because not everyone can trade daily and there still opportunity to get some good pips in these higher time frames including daily.
Here ive highlighted london time zones (red)
newyork time zones(blue)
As you can see when new york open we see a reversal and finished the low on london close where again we see a reversal in price.
I expect price to start to climb again once london open again with a potential of 60pips
My entry will be 0.67820
So here is a institutional view on CAD/JPY
The red lines show what retail traders work with (support&resistance) and head and shoulder pattern shown here!
The blue lines show where the liquidity is for the institutions to move the market and where the market will finish.
The institutions will take liquidity from the retail sells and buys force the stops and...
Not looking to hang around with this trade, as iv highlighted ill be looking to take profits up to 0.99750 how you go about your % you take out and putt back into trade is up to you.
Ill be taking 25% ET and placing 75% back in until end goal is reached.
This is not by no means a shot in the dark but more of a trail, i may be wrong but how ive gone about my analysis we should see a climb back up to 0.46 USD.
Ive trimmed everything back and given you a simple form of my idea if it hits withing my time frame give or take 2 days i will show you how ive gone about it.
The reason for me doing this is i to educate...
Here we can see the main area for price action , and a perfect entry for a long and sell.
Here ill be looking to sell @0.75380 and will set TP in the highlighted zone @0.73550.
trade could take couple day but patience will be key.
Ccredit to M for the heads up
After December high of 1.68000 the price has been on a steady decline, but if you notice on the pitchfork you can see each time price has reached 0.5 fib all 3 are marked so you can see.
The price each time has rose and respected the falling trendline.
Although price has started to move , ill wait for market to open this evening and enter into a long @1.61