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Cadjpyshort

cadjpyCADJPY - SHORT Why are we entering? - Price broke the ascending trendline = bearish - Expecting further CAD weakness & JPY strength = CADJPY SHORT What are we waiting for to happen? - Waiting for the next pullback so we can draw WFB What is our confirmation? - rejection of structure and EMA - Waiting to draw WFB Entry Safe Entry: Rejection of structure and EMA and then WFB once correction appears Risk Entry 1: Rejection of structure and EMA Once entered, where will our Stoploss be? - above the rejected price (ideally above EMA ) Where do we take profits? - First TP: 88 - Second TP: 86
Short
by Elrouby
CADJPYThe Canadian dollar went back and forth over last week as we continue to hang about the ¥92 level. The market will follow oil, as it typically does over the longer term. For what it is worth, the oil market looks as if it is ready to go higher, so it will be interesting to see how this plays out. The Bank of Canada has also suggested during last week that an interest rate hike is coming much sooner than anticipated, and that could continue to favor the Loonie over the Japanese yen.
Short
by SmoothJB
I'm being patient here It has been risk ON lately. So JPY has been very weak because there was no need for people to put money into this safe currency, but it looks like it is now nearing the end of it's trend. I expect big institutions to start removing their risk as more uncertainty enters into play. No FOMO Everyone is trying to short right now, so I expect a second liquidity rejection of the tops because that is where people's stop losses will be sitting. The bigger picture Why do I say there is going to be a second liquidity grab? Because we can see that price has reached a previous top and it is very likely that it will go just above it to grab long term stop-losses. This new found liquidity will propel prices down : A closer look Here is the 2 turkuaz lines in a closser look (1h chart) :
by TheSnowballEffect
CADJPY Analysis and Trade IdeaCADJPY has entered my POI. I am now waiting for it give indications of a reversal, so I may find a valid short. If price stay strong, making the HH even higher, I wait. Patiently. It will pull back at some point, to make the HL. This is dictated by HTF market structure. I wait, patiently, for confirmations. No confirmations, no trade. NOTE: I didn't mention it in the video, but CAD gas CPI news on Wednesday. Banks may look to take profits and send the market to move unpredictably. Be very careful trading this pair with the news looming.
Short
by RT_Money
4