Roker1
Long

More clues make an evidence!

FX:CADJPY   Canadian Dollar / Japanese Yen
Hi guys,
i want to bring your attention to this situation on CADJPY             . Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry.
Also, in the dialy timeframe price has recently gone oversold.
As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows.
What does it tell us? Maybe trend is changing.
In addition to that, the RSI on this timeframe is in divergence.
All this clues together boost my confidence on this particular trade.
Stops below the low.
Target1 at 1,20 RR roughly, target2 to be determined.
Let's see.

If you want to share your viewpoint, please don't hesitate to comment.
Otherwise, see you in the next chart!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out