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Cadjpyshort

Potential Reversal Trade Idea for CADJPY Over 1000 PIP potentialTrade Pair: CADJPY Direction: Potential reversal to the downside Entry: Below current market price (to be determined based on technical analysis) Stop Loss: Above resistance at 109.58 Take Profit: 96.5 Rationale: The CADJPY currency pair has shown signs of a potential reversal to the downside, presenting an exciting trading opportunity. The idea is to enter the trade below the current market price, targeting a significant move of over 1000 pips. Technical Analysis: Resistance Level: A crucial resistance level at 109.58 has been identified. Placing the stop loss above this level helps to minimize potential losses if the price breaks out to the upside. Bearish Divergence: Observe for any signs of bearish divergence on the oscillators or other technical indicators, indicating weakening buying pressure and a potential reversal. Trendline Break: Monitor for a break below a major trendline or a support level that could confirm the reversal and attract further selling pressure. Risk Management: To manage risk effectively, it is important to adhere to the following guidelines: Position Sizing: Determine an appropriate position size based on your risk tolerance and account size, ensuring that potential losses are within acceptable limits. Stop Loss: Place the stop loss order above the resistance level at 109.58 to protect against a potential breakout to the upside. Take Profit: Set the take profit target at 96.5, aiming for a substantial move to the downside. However, consider adjusting the target based on subsequent price action and market conditions. Monitoring: Regularly monitor the trade's progress and adjust the stop loss or take profit levels if necessary, taking into account any significant price movements or fundamental developments. Please note that this trade idea is based on hypothetical analysis and historical price patterns. It is essential to conduct your own thorough analysis, consider market conditions, and consult with a qualified financial advisor before making any trading decisions.
Short
by PriyankaSatam1894
1
CADJPY ____ INCOMING BEARISH MOVEHello Guys, As I had mentioned in my previous post on USDCAD (inserted below), CADJPY which is correlated to USDCAD is also at a very important supply region (weekly order block). My speculation is that CADJPY may continue some more inducements and manipulation on its way to the top before it begins selling. If you look left, you will notice the buy-side liquidity (equal highs) that the price may just spike above before selling or creating another equal high. You should put this pair under your radar as it has more potential to deliver on the short. Follow me for more updates like this. USDCAD ANALYSIS Cheers, Jabari
Short
by jabariofafrica
3
CADJPY PLAN!Hello traders around the world! My name is Alexandre Karim and today I'll be showing you my plan on CADJPY. First of all if we go back to the weekly chart, we can clearly see that the price reached a mass psychological level at 106.420 since December 2014. The price formed an ascending channel, corrective to the upside from May 2022 till November 2022 & reversed to the downside. The gravity was clearly to the downside and back then we were planning for shorts. Moving to the 4H chart, we can see that this pair is currently giving us an expanding channel + an ascending channel inside of the structure. I am planning for a short position in these two areas: 1) The ascending channel which is corrective and very disciplined showing us clear touches on the upper TL. From this area, I'll be waiting for an hourly reversal pattern or an inner structure inside this ascending channel. 2) Waiting for the price to reach again the upper rejection line which is approximately at 110.520. From this area, I'll be also waiting for an hourly reversal pattern (Could be an ascending channel that will move correctively to the upside + sideways) Always wait for the best set up to happen and have patience. #ThePrimes
Short
by alex_k_95
CADJPY OHLC MONTHLY STRUCTURE IN DAILY TIMEFRAME(Sell Setup) 🚨CADJPY OHLC MONTHLY STRUCTURE DAILY TIMEFRAME (Sell Setup) 🚨 The CADJPY pair is exhibiting a noteworthy OHLC (Open, High, Low, Close) structure in the daily timeframe. Currently, the price is being rejected below the resistance level of 104.589 . Anticipating a close below 104.088 , it is advisable to wait for a TDI cross to validate the presence of selling pressure in the markets. Once the cross occurs, the initial target would be 103.215 , followed by a second target of 102.914 in the daily timeframe. It is crucial to exercise patience and await the TDI cross before taking any action. Trade with Caution. Wait for valid entries. Please support this idea with LIKE if you find it useful. P A T I E N C E + D I S C I P L I N E
Short
by PeanutButter