Temporary Fall Before Long Term Trend Decision; CADJPY
Good Day All,
First and Foremost I would like to clarify, I consider this trade UNCERTAIN, Please do significant analysis first before executing!
CADJPY, having its previous All Time High set during the late 2014 has been crossed around June this year.
Having taken more than 7 years to reach this point, arguably this trade and any other within this time frame are considered quite risky, however starting from late October, prices has begun to momentarily fall.
Looking around for possible predictions, I can't say this is easily predictable as price being in a Zone that will determine its long term downfall or up-rise, seeing its rejection at price level 109.3 during he last days of Oct, I predict it'll fall temporarily.
Keep an eye for news as this week is riddled with RED LEVEL news affecting both currencies as well as the G20 meeting which includes both Canada & Japan, needless to say the news could slingshot prices in either direction so do mind your MM.
Past the warnings, I hope to see it fall by 2 -5 price points before possible correction and readjustment towards higher levels or a nosedive caused either by news or trading action.
So, if you do decide to open this trade, please do use appropriate lots as I personally would give this prediction a solid 60%+ chance due to the current zone this trade lays, and as I said in all my past predictions, while I do not mind others benefiting from my predictions, I would hate to see others lose cause of my own, do be careful.
Recommended Order: Market Sell or around 105.1 as an Entry
Take Profit 1 : 103.82
Take Profit 2 : 102.75
Take Profit 3 : 101.005
R/R Ratio TP 2: 0.9
R/R Ratio TP 1: 0.5
Stop Loss : 107.7
Prediction Nullifying Requiems: Price out of bounds or beyond the 1 W mark.
P/S: Do Consider Adjusting The SL via ATR before letting it run.
Good Luck & Good Hunting.
First and Foremost I would like to clarify, I consider this trade UNCERTAIN, Please do significant analysis first before executing!
CADJPY, having its previous All Time High set during the late 2014 has been crossed around June this year.
Having taken more than 7 years to reach this point, arguably this trade and any other within this time frame are considered quite risky, however starting from late October, prices has begun to momentarily fall.
Looking around for possible predictions, I can't say this is easily predictable as price being in a Zone that will determine its long term downfall or up-rise, seeing its rejection at price level 109.3 during he last days of Oct, I predict it'll fall temporarily.
Keep an eye for news as this week is riddled with RED LEVEL news affecting both currencies as well as the G20 meeting which includes both Canada & Japan, needless to say the news could slingshot prices in either direction so do mind your MM.
Past the warnings, I hope to see it fall by 2 -5 price points before possible correction and readjustment towards higher levels or a nosedive caused either by news or trading action.
So, if you do decide to open this trade, please do use appropriate lots as I personally would give this prediction a solid 60%+ chance due to the current zone this trade lays, and as I said in all my past predictions, while I do not mind others benefiting from my predictions, I would hate to see others lose cause of my own, do be careful.
Recommended Order: Market Sell or around 105.1 as an Entry
Take Profit 1 : 103.82
Take Profit 2 : 102.75
Take Profit 3 : 101.005
R/R Ratio TP 2: 0.9
R/R Ratio TP 1: 0.5
Stop Loss : 107.7
Prediction Nullifying Requiems: Price out of bounds or beyond the 1 W mark.
P/S: Do Consider Adjusting The SL via ATR before letting it run.
Good Luck & Good Hunting.