There's likely no retest of this trendline break as CJ finally finds a break out of the descending channel of late.
Long from Market Entry as there's chance of no retest - trade your own strategy.
TP1 @ 82.40
TP2 @ 82.60
TP3 @ 83.50
I am shorting CADJPY down to the 81.250 price zone.
Currently price has made a nice pullback and is forming a new lower high after rejecting the 83.00 resistance zone. I anticipate 2 more bearish waves down to my final profit taking zone before price either breaks or bounces from the target daily bullish trendline.
Idea based on Beta Project(R). Risk Management: Compound (Constant) Level : PA (Constant)
This is just my view follow if it aligns with yours.
This project projections & Entries are subject to failure.
After a tremendous bearish run price action is at a major level with a bullish engulfing candle. I'm expecting a decent pullback before deciding further movements. I have gone long on this and marked tp and sl for you as well.
Remember, this is a short term buy.
Let me know your thoughts. Trade safe and good luck.
HERE WE HAVE CADJPY ALOT OF DIVERENCE AND LOOKS TO BE RUNNING OUT OF STEAM,
SELL SETUP... IN THE 1HOUR TIMEFRAME WE SHOULD SEE A 3 TO 5 WAVE CORRECTION GIVING US A 4HOUR CORRECTIVE PATTERN THESE CAN BE RISKY TO TRADE AS THEY TAKE THERE TIME TO MOVE ANYWHERE..
BUY SETUP... WAIT FOR A 4HR CORRECTION TO FORM THEN THE BREAK OF THIS WILL GIVE US A BUY SETUP YOU MUST...
Diamond top formed on CADJPY, bulls have run out of steam. We have also hit the up-channel oblique resistance as well as the weekly sideways resistance for a nice double top. SHORT>
(excuse the messy chart)