Chart Structure and Markings:
Major BoS (Break of Structure) and ChoCh (Change of Character) are marked multiple times, indicating where the market momentum shifted.
A Major BoS is highlighted during a major downtrend (left side of the chart), showing a decisive bearish move.
Multiple Minor BoS and Minor ChoCh events are identified throughout the chart during minor trend changes, mostly in consolidation phases.
2. Key Zones:
Demand Zone:
Marked in green around August, suggesting a major support area where price previously reversed upwards.
Falling Wedge Pattern:
A clear falling wedge is drawn from February to April 2025.
A falling wedge typically signals a potential bullish reversal.
Breakout:
Price appears to have broken above the falling wedge resistance line, suggesting bullish momentum might be kicking
3. Target Projection:
Several target levels are indicated with upward arrows:
First Target: Around 106.000
Second Target: Around 110.000
Third Target: Around 114.000
These targets align with previous key resistance levels in the past price action.
There’s also a suggested possible retest after breakout before moving up — a common price behavior after breaking a wedge.
4. Indicators/Other Elements:
Sell/Buy price boxes near the top left showing:
Sell: 103.690
Buy: 103.763
Watchlist and Indicators bar visible at the top.
Strategy Tester, Replay, Trading Panel options seen at the bottom
Summary of the Market Analysis:
Trend: Overall bearish trend initially, but signs of potential reversal.
Pattern: Falling wedge broken to the upside — bullish signal.
Expectation: If the breakout holds, CAD/JPY could move towards 106.000, then 110.000, and possibly 114.000
Major BoS (Break of Structure) and ChoCh (Change of Character) are marked multiple times, indicating where the market momentum shifted.
A Major BoS is highlighted during a major downtrend (left side of the chart), showing a decisive bearish move.
Multiple Minor BoS and Minor ChoCh events are identified throughout the chart during minor trend changes, mostly in consolidation phases.
2. Key Zones:
Demand Zone:
Marked in green around August, suggesting a major support area where price previously reversed upwards.
Falling Wedge Pattern:
A clear falling wedge is drawn from February to April 2025.
A falling wedge typically signals a potential bullish reversal.
Breakout:
Price appears to have broken above the falling wedge resistance line, suggesting bullish momentum might be kicking
3. Target Projection:
Several target levels are indicated with upward arrows:
First Target: Around 106.000
Second Target: Around 110.000
Third Target: Around 114.000
These targets align with previous key resistance levels in the past price action.
There’s also a suggested possible retest after breakout before moving up — a common price behavior after breaking a wedge.
4. Indicators/Other Elements:
Sell/Buy price boxes near the top left showing:
Sell: 103.690
Buy: 103.763
Watchlist and Indicators bar visible at the top.
Strategy Tester, Replay, Trading Panel options seen at the bottom
Summary of the Market Analysis:
Trend: Overall bearish trend initially, but signs of potential reversal.
Pattern: Falling wedge broken to the upside — bullish signal.
Expectation: If the breakout holds, CAD/JPY could move towards 106.000, then 110.000, and possibly 114.000
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FREE Trading Signals ..
t.me/TradingViewAccurate786
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Smart_Money_Trader_SMC
t.me/TradingViewAccurate786
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Smart_Money_Trader_SMC
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.