CADJPY | Perspective for the new weekConsidering the long term Bullish perspective ( see weekly chart), I see a correction phase of the Bullish Impulse leg (began on the 21st of April, 2021) happening since the price broke below Y90.000 on the 17th of June 2021.
Tendency: Uptrend (Bullish)
Structure: Breakout | Supply & Demand | Correction phase
Observation: i. The successful Breakout (29th of April 2021) of Y88.000 level which "resisted" price for 48days confirms the strength of the Bullish momentum.
ii. Since price found peak @ Y91.100, we have experienced a downward spiral (correction phase) that we are yet to decipher when it will end.
iii. A long-term Bullish perspective was confirmed the moment price broke above and rejected the major Support/Resistance zone @ Y85.500 on the 5th of March and 21st of April 2021 respectively.
iv. The Breakout of Trendline also coinciding with the Breakout/Retest of major Support/Resistance level has a significant impact on the character of the Bullish momentum.
v. In this regard, I anticipate a rejection of the Trendline to spark a rally continuation in the coming week(s) as the area above Key level I @ Y88.200 pronounces Buy window I.
vi. Now should the price break below the Trendline in the coming week, another opportunity to buy is spotted on the chart as Buy window II which is right above Y87.000 zone.
vii. As soon as rally continuation is confirmed, I look forward to a transition into a Harmonic pattern (AB = CD) with parameters explained below.
a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg.
b. The B- to-C leg is expected to fall at 61.8% with the potentials of extending to 78.6% Fibonacci retracement of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B @ Y93.000 area.
viii. Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 500 pips.
Risk/Reward : 1:6
Potential Duration: 12 to 20days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the financial market (including foreign exchange, commodity trading, CFDs, stocks etc.) involve high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Cadjpysignal
295.8 Pip Medium/Low Shorting opportunity A medium/low probability to go short has been given after the market failed to create a higher high, suggesting that we may see some bearish pressure at the given levels.
Expectancy: Short term
Idea: Possible bearish wave
Previous accuracy: 70.27%
Trail: 90.346
Sl: 29.1 Pips
Tp: 295.8 Pips
Caution, trade may be invalid if a higher high is created.
CADJPY | Perspective for the new week | Follow-UpWith over 800pips run since my last publication (see link below for reference purposes); It appears we are at a juncture in the market where a trading opportunity is building up as structures insinuates a reversal.
The CADJPY pair appears to be losing its bullish strength since hitting her peak @ Y 90.600 which was followed by Lower lows that culminated in a successful Breakdown of Key level I @ Y90.350 during last week trading session. However, this bearish potential seems limited at the time being as we still need to keep our fingers crossed for further confirmations that will trigger selling opportunity ( a possible correction phase in anticipation of a rally continuation).
Tendency: Downtrend ( Bearish)
Structure: Breakdown | Supply & Demand | Trendline
Observation: i. The Bullish Trendline indicated on the chart has been a significant factor in deciding the prevailing direction of price action since last month.
ii. Pivot point Ito IV emphasizes a visual representation of price action respecting a support line.
iii. It is observed that the thrust from Pivot IV appear to have lost momentum which has been consistent with the pattern in the past as the price rejects Y90.500 during last week trading session.
iv. The rejection of Y90.500 give rise to the appearance of the Double Top pattern - an extremely bearish technical reversal pattern that forms after the price reaches a peak two consecutive times with a moderate decline between the two highs.
v. This been said, I shall be looking forward to a Breakdown/Retest of Trendline which shall also coincide with Breakdown of Neckline (Key level II) @ Y90.000 (a psychological level) for confirmation in the coming week(s).
vi. CAUTION: A Breakout/Retest of Y90.350 shall render this set-up invalid with the possibility of rally positive. Please note that we are looking for an opportunity for Bearish momentum below Trendline... Trade consciously! :)
Trading plan: SELL confirmation with a minimum potential profit of 150 pips.
Risk/Reward : 1:5
Potential Duration: 2 to 6 days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
CADJPY Expected moveAscending channel is formed in LTF the price might get rejected after 3rd touch and move down towards the previous swing point and then may continue to move upwards . We can take a risk entry at the 3rd touch with 15 pip sl and then hold till previous swing and can look for a buy after the rejection from previous swing with a good candlestick formation
CADJPY - SHORT; SELL it right here!!This pair is also ready to go (down), right alongside it's other carry trade siblings - CAD/CHF, NZD/CHF, NZDJPY, AUDJPY.
All of these pairs a major Shorts, from here;
This one (CADJPY) ought to be good for ~500 pips from here.
Here is the Short Entry off of the 4 hr.;
CADJPY AnalysisHello friends.
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Everything on the chart.
targets: 87.35 - 86.7 - 85.9
after first target reached move ur stop to breakeven
stop:~88.4 (depending of ur risk). ALWAYS follow ur RM .
risk/reward 1 to 4.5
risk is justified
Good luck everyone!
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CADJPY SELL | Going down Hello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for SELL GOOD LUCK! Great SELL opportunity CADJPY .
I still did my best and this is the most likely count for me at the moment.
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