CAD/JPY BULLISH PATTERNCAD/JPY currency pair had formed a breakthrough on a triangle pattern on the 4H graph which might suggest a bullish movement of it.
MACD Histogram is above the 0 line and both RSI moving averages are above the neutral 50, both indicating potential bullish movement.
If this movement gets confirmed the pair might try to reach back its levels of 106.5 but if the opposite scenario occurs, the pair might test its previous low on 102.95
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Cadjpylong
CADJPY, Long at 103.00 (275PIP Target)Hello Traders,
Investors turned to safe haven currencies recently as JPY strengthened across the board. Looking at the HTF on CADJPY, we can see that price made a massive push down touching the previous low of 101.6 range creating a double bottom with a reversal impulse. Looking at the LTF, we could see price is currently developing a bullish continuation structure seting up the next impulse which we will see some short term consolidation early next week before seeing another push upwards.
Trade Safe,
Thanks
CADJPY longBreak and retest of daily support on 1hr. Price above daily pivot. ADX is trending positive.R1 is first take profit. R2 is second take profit which is same level as 0.32% fib target. 1hr bullish engulfing rejection of daily support. 1 hr market structure is creating new higher highs and lows.
CADJPY, more downside expected Hi Traders,
CADJPY has taken a drop and if we look on the HTF, price moved up within an ascending channel which made a double top to add bearish confluence that a reversal is coming. On the LTF, price made a smaller correction at top of channel cresting a massive push downward to lower boundary. Wait dor a Breakout followed by correction (4 to 5 candles) to validate another high probability sell opportunity.
Trade Safe!
Thank you
CADJPY longMarket maker fake out below sideways channel only to hve a bullish engulfing 1 hr rejection at daily pivot which is also 0.38 fib and 4 hr support level. This trade is my actual position from the previous cadjpy idea however I was able to get a better entry and lower stoploss , therefore my trade is still valid and not stopped out. Still waiting for the bullish continuation.
CADJPY longOverall ascending channel. 1hr bullish engulfing candle. Rejection off 0.786 fib on the 4hr. Next target at daily resistance and 0.236 fib. Mini ascending channel with bullish patterns across 5,15, and 30 mins. Break above daily pivot. 1hr market structure is a series of higher highs and lows.
CADJPY - Buy/Long - Ascending Triangle.CADJPY - Buy/Long - Ascending Triangle. Price has been knocking on the 106.200 zone for a while now and we might just see it break-through to the upside. Price has been making a series of higher lows to this point, indication strong momentum.
Always Use good risk management, only risk 1% or less on any given trade. When a certain % or pips in profit move stop loss to breakeven. Also consider taking partials along the way or trailing profit in case of a reversal or if price surpasses our target level.
CADJPY Set UpLooking to short this pair as there is major resistance above. Would love to see price break the trend line and then retest before entering for a sell. Of course, price can break June's highs and the 2 resistance above the current price on the chart. Would take news to do so in my opinion. Tuesday and Wednesday this week are important days to see what this pair will do the upcoming week.