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Cadjpytrade

CADJPY OUTLOOK w bullish outlook1. Retest of previous weekly structure. 2. Next week we see important CAD data coming in. I have a bullish bias on the CAD GOV hiking rates. So a bounce off this structure for me is expected. 3. Good RR with SL below structure. *Anything can happen to bullish bias does not mean shit unless we have decent price action around the structural support area. *Pullback volume is also higher compared to the wave up so next week we will need to determine whether the selling pressure is still there.
by D_Market_Outlook
1
CADJPY Bigger Picture View Down To H1 Time Frame - Good Setup!Weekly (pink): We are currently in wave 4 of the weekly structure. I expect wave 4 to complete to the top of the structure before we will see whether there will be a break of the structure to the upside on this wave or whether there will be a 5th wave to the downside first. Daily (blue): We are in wave 3 of the daily structure. Interestingly the target for wave 3 is at the same point as wave 4 of the weekly structure. This indicates a strong possibility that the price will move to that target. H4 (green): The structure that has formed on the H4 time frame doesn't completely tie in with the bigger picture view as it has a bearish formation. I expect that there may be an extension in wave 5 which will complete the larger structure views. H1 (red): I am sitting on my hands at the moment and waiting for the H1 corrective structure to unfold. As things stand now, I am expecting to see a 5 wave structure formation which would complete at the bottom of the green H4 structure. I will be looking for the long entry from that point. Contact me via direct message for any assistance required. Analysis on all the majors and their crosses available Happy trading! Linton
Long
by Linton_White
2
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Short
by fxstargroup