At the beginning of Oceania time, CADJPY was started gap up.
I think it means strong up trend.
Also, price is beyond Fibo 61.8% and 200 SMA of weekly chart.
There is nothing to disturb this pair take...
According to 4H and Daily chart, up trend started.
And this pair recovers Fibo 50%.
Moreover, it was beyond Fibo 61.8% today.
Thus, it may have a strong upside potentiality.
But it has to go over 200 SMA of 4H and 100 SMA of Daily before...
I prefer short to long thus had short position again.
Needless to say, the trend is still down though raising interest-rate.
Be careful for rebounds.
TP1: 17.430 (22.8p, Fibo 38.2%)
TP2: 17.076 (+58.3p, Fibo 50%)
SL: 18.000 (-34.2p)
Good luck to you and me!
It seems to fall again like before.
I think the temporary peak has gone.
TP: 17.870(Fibo 23.6%, +28p)
The ratio is not good, because my entry was too late.
Hope good luck to you and me!
The latest support line is about 1.12438.
But it was breaking under tonight.
So, my idea is down trend started again.
entry: 1.12357 (after confirmation of support line breaking)
target price: 1.10500 (+185 p) (200 MA is located on weekly chart)
stop loss: 1.12800 (-44 p)
Regarding 52 weeks chart, it might seem to go up slowly.
Because the bottom candle shape is cross, it maybe means the end of down trend.
So, this strategy is for long-term and contrarian at this moment.
entry point: 1.28840
target price: 1.30700 (+186 p) Fibo 23.6%
stop loss: 1.28500 (-34 p) a bit lower than today's...
entry : 0.97600
target price : 0.97250 (+35 p)
stop loss : 0.97750 (-15 p)
risk : reward = 1 : 2
200 MA is around 0.97500, and it was broken under today.
So that, I have short position after pull back confirmation by 4H chart.
I hope this trading will work well.