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Cadjpyforecast

CADJPY H1 LONG PRICE ACTION FORECASTAfter the price reaching the ascending trendline, it got a rejection from the level, and it is currently struggling with a resistance zone. Now, expecting that price get enough momentum to break it on the uptrend bias, a buy order is placed with the following features. The order: Type: buy-stop S/L: 30 pips - R:R | 1:2 - T/P: aiming towards a confluence level previous swing high and ascending trendline -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
1
CADJPY H1 SHORT PRICE ACTION FORECAST Although MA's are about to form a triple golden cross, signaling an uptrend momentum, price action is currently retesting a broken ascending line, reason why if the price gets enough rejection, it could present a bearish opportunity with this pair. The order: Type: sell-stop S/L: 18 pips - R:R | 1:2 - T/P: aiming towards the support level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADJPY H4 SHORT PRICE ACTION FORECAST Price structure has formed clear LH, compressing prices into the triangle formation. Trading below the 200MA allows the perfect setup for a short entry. The only concern is about the news release late at 10 pm (GMT+8), which can dramatically change the Canadian dollar's bearishness. Hold tight risk management in place. The order: Type: sell-stop S/L: 30 pips - R:R | 1:2 - T/P: support level from the channel rage -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADJPY H4 SHORT PRICE ACTION FORECAST With JPY under bullish influence across the board, the CADJPY pair has recently found rejection after the re-test of the broken ascending trendline. It was forming a candle pattern known as tweezer top at the resistance level, allows the setup of a short entry to capture the forthcoming downward movement in the pair The order: Type: sell-limit (entry after confirmation of pullback). S/L: 50 pips - R:R | 1:2.2 - T/P: target a previous level of confluence -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADJPY H4 LONG PRICE ACTION FORECASTPrice action is experiencing a downtrend momentum as correction, with MACD signaling a diminish bullish bias and about to form a sell signal for confirmation of short-term downtrend. Expecting price action to correct and get a rejection from previous resistance level to trigger a long order capturing the forthcoming bullishness, allowing a decent R:R towards the supply zone in confluence with the ascending trendline. The order: Type: buy-limit S/L: 45 pips - R:R | 1:2.7 - T/P: supply zone -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADJPY H1 LONG PRICE ACTION FORECAST -UPDATE-Yesterday the order got triggered. After reaching a certain level, half of the position was taken, and S/L moved to E/P for a free risk trade. After price correction, my S/L risk-free level was reached. However, the pair remains under bullish forces, so zooming in from H4 to H1, price structure shows a clear entry opportunity for a long setup, together with MACD crossing for a buy signal. The order: Type: buy-limit. S/L: 34 pips - R:R | 1:3 T/P: aiming towards a previous consolidation zone.
Long
by OGFXTRADER
CADJPY H4 LONG PRICE ACTION FORECAST After a deep correction suffered by this pair, price action was able to find rejection from the ascending trendline, in confluence with the Fib level 5.0 from the realm of D1. Now in a closer look from H4 price, maybe currently forming a bearish pin bar signaling rejection from buyers, the bullishness in the pair could be confirmed by the MACD divergence and diminished bearish momentum about to create a buy signal. If price continues its uptrend bias, a buy-stop entry could be placed, with the following features: The order: Type: buy-stop. S/L: 59 pips - R:R | 1:2.5 T/P: previous top from a kind of right shoulder.
Long
by OGFXTRADER
CADJPY H4 LONG PRICE ACTION FORECASTWith the price action in consolidation bouncing from a strong support level, not only in H4 but also against the Fibonacci level 50 from D1, we could expect a bullish breakout. To capture this uptrend continuation, a long entry is placed as a buy-stop, with an E/L that allows enough buffer for price action to move with freedom. Although the long setup is forecasted, a bearishness pressure is hovering the pair. MACD is showing a strong diminished bullish bias, that may bring the price action to break the consolidation area for a renewed bearish momentum. Price in consolidation. The order: Type: buy-stop. S/L: 65 pips - R:R | 1:2 - T/P: aiming to previous high
Long
by OGFXTRADER
2
Simple & Profitable Strategy for a Sell Opportunity on CADJPYTrade Idea: This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs. Technical Analysis: * This pair has break the short-term support now resistance zone, and its now retesting the S/R zone. * Price has a slight bounce from the 200EMA and EMA14/21 is acting as resistance. * A bearish rejection candle confirming my bias and rejecting from the short term S/R zone. * RSI 14 (hlc3) has broken the upward trend line and is retesting that trend line, the RSI 14 is also below 50, indicating that sellers are gradually taking over for this pair. *Please note that any trades you decided to take are of your own risk. All trade ideas published here are for informational purposes only and are my personal trades.
Short
by JKFXTrading