Cad-jpy
CADJPY BUY off strong support/resistance trendlineCADJPY at a very strong support/resistance trendline. The two hits on the trendline are almost perfect Looking for price to immediately reverse now towards the next key area which is the last high with much more potential to push towards the 38.2 % fib which is also a key area as well.
CADJPY BUY
start: 79.875
stop loss: 79.525
take profit: 81.123
CADJPY SHORT TRADECADJPY rejected with strong bearish movement after reaching supply zone at level 84.55
Price retested broken corrective uptrendline
Pair is below SMA 100 on H1 frame
Price is below HVN at level 83.24 which indicates that pair is in distribution phase
MACD shows weakness in bullish momentum
It's expected to target demand zone at level 81.56 as a classic target of broken uptrendline
CADCHF SHORT TRADECADCHF rejected from key level at 0.7439
Price broke corrective uptrendline
Pair is based below major downtrendline
Below SMA 100
Price is below HVN at level 0.7469 which indicates that pair is in distribution phase
MACD shows bearish momentum
It's expected for coming bearish wave to target level 0.7250
then continue going down towards level 0.7200
CAD/JPY - ShortWe finally got this third touch of the high daily down trendline! Waiting for the bounce before taking the trade, excited to see what's next for this pair, but if we push lower, this has great potential for a long term trade.
Unfortunately, I missed the big spike on CAD/JPY but capitalised on the week Japanese Yen on other pairs.
If you haven't already noticed, I prefer to swing trade rather than being tagged in and tagged out trying to intraday trade, took me a while to find out that this was how I personally prefer to take trades. I will be posting my Sunday breakdown of a few pairs so look out for them :)
CADJPY Stuck On Resistance
cadjpy has positively reacted on 84.5 resistance.
on 1h we see a lower high formation and a bearish breakout of minor support to the downside.
now the pair is retesting the broken level giving us a perfect opportunity to short.
I will expect the retest of the 84.0 level with potential continuation to 83.7
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CAD/JPY Break Down - Clear Ascending Wedge Rejection(Meant to say bearish rising wedge in the chart)
The bearish rising wedge broke down but bounced up into the bottom resistance of the wedge
and hit the key resistance of the bearish falling triangle. One should assume a short play here
Use a Tight stop loss, there's potential it can break bullish
CADJPY | Rising Wedge BreakoutPlease support this idea with LIKE if you find it useful.
Reason for a Short Position: Price was rejected by Strong Resistance. Price made a breakout of Rising Wedge
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Don't miss the great buy opportunity in CADJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (82.80). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 80.
Take Profits:
TP1= @ 83.50
TP2= @ 83.90
TP3= @ 84.55
SL= Break below S2
Don't miss the great buy opportunity in CADJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (82.80). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 80.
Take Profits:
TP1= @ 83.50
TP2= @ 83.90
TP3= @ 84.55
SL= Break below S2
CADJPY update! I just love shorts One more short opportunity here! Clean setup, this new down-trend is confirmed with this last touch! Entering here for maybe 100pips! SL could be tight but i'm keeping this one higher so i dont get spiked out! Risk management on it and lets go!
What do you think?? Leave a comment!! Also, join me on telegram t.me/tradingbayfx
CADJPY - FOREX - 11. FEB. 2020Welcome to our weekly trade setup ( CADJPY )!
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1 HOUR
Bullish break above previous shortterm highs
4 HOUR
Price took out short sellers and need to drop now.
DAILY
Overall bearish market in pullback, great short entries!
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FOREX SETUP
SELL CADJPY
ENTRY LEVEL @ 82.700
SL @ 83.180
TP @ 81.750
RR: 2.0
Use 0.5% risk!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
CADJPY | Cup & HandlePlease support this idea with LIKE if you find it useful.
Initiate Long.
Entry - 82.741
TP1 - 83.071
TP2 - 83.424
TP3 - 83.856
TP4 - 84.260
SL - 82.631
Reason: Price formed Cup & Handle, broke Ichi Cloud resistance. Now breaking 61.8% Fib level.
-Please consider to initiate a position on a confirmed breakout of 61.8% Fib level
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.