Pattern ID Exercize on CAD/JPY 6/2/2024Hello this is my Pattern ID Exercize on CAD/JPY 6/2/2024. Hoping for your feedback
JPYCAD trade ideas
Setup #004 - CADJPY - LongWaiting for order fill. Must come between 10am-12:30pm ET today.
Confluences:
✅ Bullish overall bias
✅ Bulllish demand zone
✅ Bullish crab on 15 min chart, bullish impulse crab on H4
✅ Bullish divergence in price reversal zone
✅ Buillish break of structure
✅ Entering London close zone
✅ Break of structure confirmed
✅ Required risk:reward met
CADJPYPotential CADJPY trade? if we get a retracement back into that zone price will be hitting a psych level and a previous structure level. It will be another confluence if price also meets the EMA and uses it as resistance.
CAD/JPY NEXT MOVESell after bearish candle stick pattern, buy after bullish candle stick pattern....
Best bullish pattern , engulfing candle or green hammer
Best bearish pattern , engulfing candle or red shooting star
Stop lost before pattern
R/R 1/3
CADJPY - ShortShort trade plan for CADJPY as it is moving in bearish trend with descending channel support.
Bearish divergence further supports bearish trend.
CAD/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
CAD/JPY pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 106.159 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
✅LIKE AND COMMENT MY IDEAS✅
Looking for a momentum breakdown closurefor upcoming CAD weakness and potential YEN strength
Just looking for small scalp
runners depends on the catalyst which I think have chance to happen soon
No breakdown closure with volume, volatility, and momentum confirmation = no trade
heikin ashi to trail
information created and published doesn't constitute investment advice!
NOT financial advice
CADJPY (5 MIN CHART)The CADJPY pair is near a supply zone and show as reversal pattern on the 5-minute chart, signaling a potential sell opportunity. Look for bearish candlestick patterns and cross with high volume and to confirm entry.
LOOK FOR 5MIN TIME FRAME
CADJPY Buy Setup🔼#CADJPY Buy Setup
Currently Trading At 105.580 , Buy Dip Till 104.742 For The Target 107.300—-109.380
CADJPY next move (expecting bearish move)(22-01-2025)(mid term)Go through the analysis carefully and do trade accordingly.
Anup 'BIAS for the day (22-01-2025) (mid term)
Current price- 109.000
"if Price stays below 111.000, then next target is 105.000 and 103.000 and above that 115.000 ".
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk more than 1% of principal to follow any position.
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Short**Market Outlook and Technical Perspective**
**Key Price Levels:**
- **Resistance Threshold:** 113.030 – A decisive break above this level would negate the bearish outlook, suggesting potential trend reversal.
- **Support Targets:** Immediate downside targets are 106.332 and 104.805, with a critical *Major Support* at 102.800. A close below 102.800 confirms renewed selling momentum.
**Chart Pattern & Trend Dynamics:**
- A **descending flag pattern** is emerging on the chart, typically a bearish continuation signal. This reinforces expectations of a downward leg, targeting the noted support levels.
- Price remains below the **WEMA21** (21-period Weighted Exponential Moving Average), which now serves as dynamic resistance. Any upward retracement could face selling pressure near this moving average.
**Momentum Analysis:**
- **RSI (Relative Strength Index):** At 41, the RSI reflects bearish momentum but is not yet oversold. A sustained downtrend in the RSI (marked by its own unbroken bearish trendline) aligns with the price’s weakness.
- **Recent Price Action:** The peak at 111.550 (20 Nov 2024) established a lower high, signaling fading bullish strength and opening the door for further declines.
**Scenario Analysis:**
1. **Bearish Continuation:** While price holds below 113.030, the path of least resistance favors a drop toward 102.800, especially if sellers breach 106.332.
2. **Bullish Invalidation:** A close above 113.030 or a break of the RSI’s downtrend line could signal short-term bearish exhaustion, warranting caution for downside bets.
**Conclusion:**
The confluence of the descending flag, resistance at WEMA21, and RSI momentum supports a bearish bias. Traders should monitor reactions at 106.332 and 104.805 for downside acceleration, while guarding against a surprise break above 113.030 that would challenge the current thesis.
CADJPY - Sell Opportunity After Support BreakOANDA:CADJPY has broken a key support zone, signaling a potential increase in bearish momentum. The price is currently retesting this broken support, which now serves as resistance.
If sellers confirm resistance at this level, the price is likely to move downward toward the 103.970 level, aligning with the prevailing bearish trend. Conversely, a failure to hold resistance could suggest a potential bullish shift.
Traders should monitor for bearish confirmation signals, such as bearish engulfing candles or increased selling volume, before considering short positions. Let me know your thoughts or any additional insights you might have!
CADJPY - Short TradeCADJPY is moving in downtrend.
No bullish divergence is formed.
Entry is at retracement at LH.
CADJPY Sell LimitCADJPY is in down trend. It is making Lower Lows and Lower highs. There is no divergence. At fibbo level 0.5 we can place sell limit order
CADJPY Daily: Trump's tariffs or just a pullback??Since March 2020 the loonie has been in uptrend with ups and downs(as normal in this market) but from July 2024 it got a strong push back about 1442 pips in less than a month. I may be wrong but it was around that time Trump started to mention about the possible tariffs for Canada and seems the market reacted fast. Ok, after that the loonie managed to recover some of the losses but it didn't have enough momentum to break the 111.480 previous Support from May 24 and dropped again. In the chart I can see a formation of a upper TL acting as a dynamic resistance signaling a continuation downward move but also there is a lower TL acting as dynamic support but it was broken last week. Last Friday NY closed below the lower TL but still above the 106.096 previous Support. The last Friday candle shows me as a possible pullback to the upper TL but it closed weak even being a bullish close. I am expecting the price breaks the 106.226 level what if confirmed will open the path to 104.174 or/and even further. On the fundamentals side we have Canadian Net Change Employment and Unemployment Rate on Friday(7/02 @ 23:30 AEST) so be careful. Trade Safe.
CADJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
CADJPY - Buy Setup at Clear Support LevelOANDA:CADJPY is approaching a strong support zone, an area that has previously attracted buyers. The recent bearish momentum has pushed price closer to this zone, making it a key level to watch for potential buying interest.
If buyers step in and confirm the support with bullish price action—such as rejection wicks, bullish engulfing candles, or increasing buying volume—I anticipate a move toward 107.710. However, if price breaks below this level, it could signal further downside and invalidate the bullish outlook.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, whether it’s a strong rejection candle or a spike in volume, before making a move.
Your support means the world! Every like and comment motivates me to share more insights. Also, let me know your thoughts in the comments—I’d love to hear your perspective!
Best of luck , TrendDiva
CADJPY: Strong Reversal After Liquidity GrabEducational Insight
The market surged to the upside, targeting liquidity highs to trigger stop losses. Once liquidity was cleared, price stalled and reversed sharply.
By marking key candle highs and lows, we identified swing points to count the market waves. We applied the 2 Data Points Rule to validate the break of support or resistance—this is a crucial concept in confirming true market structure shifts.
Additionally, we analysed the wavesofsuccess wave structure, focusing on the Momentum Low and what to anticipate when price reaches this level.
🚀 If this insight adds value to your trading, smash the boost and drop a comment!
Blessings.
CADJPY looks down as new data comes inThe Canadian dollar is losing ground to Japanese Yen, as differences between monetary policy expectations between respective currencies start to deviate. A steady performance of yields of 30-year bonds of Japan (displaying a 2.2% yield) and reluctance of market participants to a belief of a potential rate hike in Japan, may lead to a further drop of CADJPY.
Technically, the instrument is located below a value area - a combination of 20 and 50 moving averages, and has established the new swing low this week. In case of continuation of a bullish pullback, the next resistance area is located at 107.50 zone: should this zone be rejected, the price may dive deeper as shown at the chart below.
Don't forget - this is just the idea, always do your own research and never forget to manage risk.
CADJPY - Short TradePrice is moving in bearish trend with no bullish divergence.
Descending channel also supports continuation of bearish trend.
