After refreshing our chart on this pair it still seems likely for a potential long term short position. Third touch on this resisting trendline should be enough to force a harsh rejection down to complete the overall trading range/ structure
TWO Entries TP1 & TP2 Buys
Looking at this chart CADJPY.
We can see the bears slow down and see the buy orders pushing in.
As well as a nice head and shoulder formation on the 4HR Candle as you can see above.
Could we possibly see the bulls take action ?
Lets see what happens !!!
Comment your thoughts for this pair what do you think ?
1) Price has been in a general upward trend since Sept.
2) Price has been moving within this upward channel and has come to the bottom of this channel. Therefore expecting a reversal.
3) RSI on the 4hr chart is crossing into the "oversold area". This may indicate a change coming soon.
4) Price has useed the 50sma as support historically, so it may use it as...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (82.80). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The...
Here we have a contraction leading to a key level and supported by a reversal candlestick pattern... this looks solid even with the weak fundamanetal data on CAD... CADJPY looks like a bullish one (for now)
CADJPY is in a ranging atm. Price came to daily demand zone (blue), broke and retested a newly formed 4hr demand zone (yellow). Looking for price to come back to 4hr demand and bounce off the refined 15min zones to look got longs.
Also I will be looking for short as well incase the price doesn't come back to demand, I'll be looking to short around the 83.5/83.4...
Cadjpy has reached a minor supply zone . Looking like price is slowing down after the bullish candle however, It hasn't slowed down enough for me to actually say that this supply zone will hold due to the bullish candle.
However, price has two areas of supply so if the recent one breaks than I can look towards the next supply zone and map out entries for future...
Hello Folks,
Only trade when price reach my initial long zone box.
*This is not financial advice. I am not a licensed financial advisor. I am not responsible for losses or gains that may or may not occur in the marketplace.
Join my Telegram channel : t.me
Hello Folks,
Let's buy CadJpy
*This is not financial advice. I am not a licensed financial advisor. I am not responsible for losses or gains that may or may not occur in the marketplace.
Join my Telegram channel : t.me
