. There is a possibility of temporary retracement to suggested support line (81.28). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Nice and easy trade this. After a recent drop this pair pulled back and engulf with a bearish candle which suggest the downtrend continues. I have gone short on this and marked tp1 and sl for you as well. If it breaks the next support level which it should I believe, there are plenty of downside pips on the grab. Look out for the break after hitting tp1.
Possible short position for CADJPY. Price is moving below 200 and 50 EMA indicating a short bias. Price has also hit trend line resistance for the third time validating the trade and also has broken a local support zone meaning it could go down and push towards the next support. Small stop loss of 30 pips with around 130 pips for take profit. FX:CADJPY
I have been waiting for this setup for a while now and it is about to complete. It has respected and ticked every single box which suggest that I can go long once the final stage is completed. I have marked the entry point sl and tp for this trade.
Please note, If it doesn't reach to the entry level then this trade is not valid.
I would love to...
FX:CADJPY LOOKS ON SET ON FORMING A HEAD & SHOULDER PATTERN. AS WE CAN SEE IT APPROACHING TO IT'S RIGHT HAND SIDE SHOULDER ASWELL AS APPROACHING 61.8 FIBS LEVEL. IF WE CAN GET A BULLISH CANDLE STICK CLOSURE ON THE 61.8 LEVEL WILL BE LOOKING AT A 150 TP/50 SL (1:3, HEALTHY RISK:REWARD)
WE will only be entering into this trade when it breaks the trendline and gives us good price action.
After bad economic data and using price action this looks really good trades.
please trade carefully and if your are not comfortable with losing money then don't trade at all!!1