CADJPY is approaching our first support at 82.47 (Horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracment) where a strong bounce might occur above this level pushing price up to our major resistance at 73.06 (Horizontal overlap resistance, 38.2% Fibonacci retracement). Stochastic (55,5,3) is approaching support and we might see a...
We secured 60 pips on the long, time to short. We have pierced 83.550 region, came to retest and have rejected it.Short entry is now. Each horizontal ray there after is a take profit zone.
Wait break out And Conformation For Sell Please Support Me With Likes ,Comments and Following
- price to retest trendline - looking fr price action confirmation before entering long
LONG BUY at current price around 83.883 TP indicated on chart SL 83.47
Wait the correction for best entry Potential entry arround 82.91 SL below 82.03 Target : 85.64
Follow the screen.
- Daily TDI showing over bought as price broke out of daily structure on February 1st. - 4H ascending channel (blue) cause breakout of daily channel (orange), showing over bought on TDI. - 1H also showing over bought on TDI. - Price obver sold on 15 minute, may retrace before entry.
Wait for price to correct in search of liquidity. Buying area is illustrated in blue - Best of luck Felipe Ramirez
My new ID level what is interest for long trade... Near price 82.85 is pretty nice Volume cluster and very strong long activity of buyers.
FX:CADJPY It's at the top channel, also the RSI is overbought and the currency index indicator shows overstrength in CAD and over weaksness in JPY. It could have a corrective movement before it continues the uptrend, near the zone of 61.8 and 78.6 fibonacci level
Price potentially create Crab Pattern. We can take a buy entry when price pullback to black area targeting complete Crab. Complete pattern will retesting Significant SR Level. When price really complete the pattern we can consider to short.
CADJPY providing us with a super clean (max) butterfly and a beautiful C-D pitchfork to accompany. Median line was tapped almost immediately! Remember, 80% chance of this happening! So, I'm hesitant to go short - right away. However, the pitchfork should give at least one of two super easy plays!! Watch for price action to bounce around inside the channel!