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Cadjpylong

CAD/JPY: Buyers Responsive Movement! What’s up guys and welcome to my profile, my name is Gianni and today I’m going to analyse the CAD/JPY, trying to translate the market information with a full technical analysis on different time frames perspectives. For a better understanding of my bullish bias, let’s have a quick look on the monthly timeframe: After the last bullish impulse, the market got a retracement, reaching a strong support level and retesting it during the current month. Switching to the weekly timeframe: The market got a good rejection on the support level but considering the long shadow on the last green candle, I could expect the presence of supply between the level 91.000 and 90.000, with a possibility of consolidation before the market movement. Overall the market is making HHs and HLs, then the perspective is still bullish. On the daily timeframe: The market got a retracement of its previous bullish impulse with a clear rejection around the 0.618% of Fibonacci. Finally back on the 4h timeframe: The market has been following a descending channel until an initiative bearish pressure broke the channel to the downside. On the weekly support the market got an increasing of demand and a strong responsive movement from the presence of buyers on the support level. The price retraced back after the impulse around the 0.50% of Fibonacci and it’s currently retesting a local resistance turned into support. Obviously the price is still inside the channel and before to plan my long position in this trade I would wait a breakout of the channel to the upside with a bullish price action and an entry point with a RRR of 1:2 or greater. If you enjoy this trade idea, support my work with a thumb up and don’t forget to follow my profile for more detailed technical analyses! Trade safe and responsibly, Gianni DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
Long
by UnknownUnicorn18552923
13
CADJPY ANALYSIS AND TRADE IDEA - SELL TO BUYHello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/ On the Monthly we are bullish with an ICI to the upside which the market is currently retesting the previous resistance turns support once we see a close above the support we can see a continuation to the upside. Dropping down on the Weekly we have an over extended W formation where we can see a retracement to the neckline or the wick of the candle, we will base our take profit for this weekly trade on the impulse. On the Daily we are also testing previous resistance turns resistance due to the closed below the structure, EMAs are about to cut for short though MACD still is above the 0. Trade Signals SELL Entry: 90.832 Take Profit: 87.880 (295 pips) Stop Loss: 91.775 (94 pips) ===================== BUY Entry: 87.906 Take Profit: 95.263 (735 pips) Stop Loss: 86.755 (115 pips) Good luck! Trade wisely, please do proper money management. ~FX_SHIFTER
by fx_shifter
1
CADJPY all the way upWhat's up guys! I'm looking for major buy setups on the retest as price break through the daily resistance zone I would have entered on the break but I like using a more conservative approach when it comes to currency pairs Based on the market structure , price can still make higher highs after the break of the 4H trendline and the last swing high showing the bulls back after a corrective phase I still zoomed into lower timeframe to look for more setups to capitalize on this trade I will not enter this if it doesn't fit into my trading style What do you guys feel ?
Long
by newschooltrader
2