CADJPY Long!!CADJPY
Entry buy-stop , 79.700
Stop-Loss, 79.200
Target
R1, 80.200
R2, 80.700
#R3, 81.200
SL-50
Risk1%
Cadjpylong
CADJPY 80.84 + 0.14 LONG IDEA * BREAKOUT & CONTINUATIONHEY EVERYONE
Here's an update on the CADJPY which wasn't triggered in the previous analysis see attached idea on the pair, the is currently trading in a symmetrical triangle after this consolidation looking for a break above of structure which will trigger the trade.
As always higher time-frames for direction and whats happening in the overall chart and lower time-frames for entry opportunities.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET THE WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If this idea helps with your trading plan kindly leave a like definitely appreciate it.
📢CAD/JPY Long Opportunity 👍This pair has just started a correction, there's a good chance this pair will head higher. It's on the watchlist 👀👀
CADJPY - Bullish BiasCAD - BULLISH
1️⃣ Positive industrial production in China boosted the oil prices.
2️⃣ The rising in oil prices support the CAD.
3️⃣ CAD benefited from the risk-on tone.
JPY - BEARISH
1️⃣ Investor cheered as 15 Asian Pacific nations signed one of the biggest free trade deals in history, covering 2.2 billion people and 30% of the world’s economic output.
2️⃣ The risk-on tone weighing on JPY.
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Technical
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We are buying the CADJPY at a support level of 80.200 on the H1 chart.
possible increase for CADJPYI see good increase for Canadian Dollar by the starting of next week, also I suppose Japanese Yen will decrease by comparison with other pairs
CAD/JPY BUY IDEAHey tradomaniacs,
welcome to a new free trading-setup.
Note: This is meant to be a preparation for you. as always we will have to wait fora confirmation!
CAD/JPY: Daytrade-Preparation
Market-Buy: 80,940
Stop-Loss: 80,500
Target 1: 81,410
Target 2: 81,670
Target 3: 81,980
Stop-Loss: 44 pips
Risk: 0,5% -1%
Risk-Reward: 2,40
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Peace and good trades
Irasor
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CADJPY - Bullish BiasCAD - Bullish
1- The rising in oil prices support the CAD.
JPY - Bearish
1- COVID-19 vaccine pressured the safe-haven currencies such as JPY.
2- Risk-On market sentiment.
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Technical
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We are buying the CADJPY because it was retraced in the previous session and to test the RBS in H1.
cadjpy inverted head & shoulderscadjpy formed an inverted head & shoulder so a break above neckline will be a nice opportunity to buy.
CAD/JPY LongI entered a long position here. I like the risk to reward. Price is at a strong Daily resistance. Showing some momentum to the upside.
CADJPY long1h time frame:
end of 5th wave.
fibonacci cluster.
regular divergence in MACD and RSI indicators.
buy stop command.
stop loss: 79.170
CADJPY IdeaThe pair finally hit the trendline and respected it for a few hours. Then it showed buying power and about 3/4 hours later, it fell again, but always closing above the trendline (1 hour candles).
To confirm the entry, we have a doji, followed by an engolfing candle and a failed attempt to bring the pair down. Entry just after the failed attempt candle closes.
R/W - 1/3.6
CADJPYThe pair hit the trendline and it shows some buying strengh. Only go long IF the 1h candle closes above the others, Always wait for confirmation! It's a huge reward with low risk trade. 1 risk to 5/6 reward
If it doesn't close above, we can discard the trade idea until it hit the second trend line (the one on the below)
CADJPY in a Bull Flag.CADJPY is in a bull flag which has bias to break to the upside.
The price is above both EMA's, 20 and 50.
RSI is trending higher.
I am going to buy a break of 80.200
Taking profit slightly below 80.600, roughly 40 pips.
Good luck with this pair!
Tibor
