Cadjpylong
CADJPY and Buy Area (16/6/2020)Buy Limit
Expired order 17/6/2020 23:00 (GMT +7)
SL at 78.440
TP1 at 79.130 (RR 1:1)
TP2 at 79.800
CADJPY Short Term Bullish Movement 100pips Target!!We can see price level moving near the trend support level, yet to see any breakout for BEARISH sign. For now, a short 100pips tp will be viable till a strong resistance level @80.40. Price level may also be heading towards 61.8 fib level where we should see strong BEARISH strength taking over. If we uses bollinger bands, we can see a rejection off middle band showing that the bearish strength is yet to take over. A further breakthrough off 61.8 fib level will signal a strong BULLISH continuation. As of now, I will go for a short term BULLISH trade. However, do adapt when we see a breakthrough off this trend line.
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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.
CADJPY H4 LONG PRICE ACTION FORECAST The price is captured from the D1 timeframe, testing the support trendline in confluence with the Fibonacci level 5.0, as the price was not able to break out the mentioned area, we can expect a bullish trend.
The order setup is as follow
The order:
Type: buy-stop.
S/L: 64 pips - R:R | 1:2
T/P: aiming towards a previous consolidation zone.
CADJPY ANALYSES DAILY CHART:
Price seated at the main resistance and it looks like it´ll respect it. I used as tool the ABCDX triangule and it definitely forms a bullish pattern BUT we need to look for a entry confirmation to the upside! RSI is neutral, but if you watch closely, the 50/20 EMA are crossing each other which means a possible bullish strengh. Personally, I will wait for a candle to cross the 50/20 Ema and forming a bullish engulfing. If all this confirmations match at a certain time, that´s a bullish move for sure untill the next resistance .
4H CHART :
At this moment, the price is re testing he support line and IF NO BREAK, we should wait for a bullish candle pattern, like a morning star, bullish engulfing.... etc .
30 min CHART :
Formation of a bullish pattern go google it
Trade what you see and good luck yall !
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.
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
Decision time for CAD/JPY Let's take a look at CAD/JPY on 4H chart. We can see that price saw bullish price movement and broke key resistance. After breakthrough price vent higher, however this week price saw bears and now is back at old resistance line (now support). We are going to look for Long positions if we will see price bouncing of the new support line. It is important to mention that Stochastic shows us that price is overbought.
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Good luck !
CADJPY Bullish trendAll technical factor pointing upwards, My target is 82.981, Im taking this trade, like if you agree.
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CADJPY Blasting to Space....STRONG BULLISH TREND!!!Currently, we can see CADJPY is at a rather strong BULLISH momentum uptrend. So, what will we potentially see??? For now, I will see CADJPY heading towards 100% Fib level, also there will be a strong resistance level there @84.95. As of now we can see 61.8% fib level is being broken and I see it heading towards 81.68 price level before we see a small bearish retracement back to the 61.8% fib level followed by a continuation of BULLISH movement.
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CADJPY Possible H&SHi Traders, here is the full Update Analysis / Breakdown for CADJPY.
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