Hi there, I see a smaller correction marked with green arrows. The last three daily candles show some strong move up and if this is the C wave, I believe that we could be seeing a completion of the regular flat soon. Looking at the bigger picture, if we go down from here, I could imagine seeing a further move down to complete the regular flat (marked in blue +...
The Canadian Dollar has weakened against the Japanese Yen during the past two-and-a-half months, thus forming a descending channel. This pattern is a part of a long-term falling wedge which was formed mid-December, 2016. After bouncing off the bottom boundary of the medium-term channel, the Loonie managed to push up to the weekly and monthly R1s at 89.10 within...
If you are looking for a lengthy write up, press close. I aint gonne tell you a gradma story. We go straight to the point. We are seeing the bearish on the JPY and CADJPY is one them. In D1, we just had a nice Bearish looking pin bar to support too. Stay BEAR Trade Safe, s0nic Disclaimer: The information contained in this presentation is solely for...
Price retest the structure and there's a fibo confluence. RSI overbougt as well. we can short it now
Hi Traders, Today i break down the CAD.JPY, not because there is a trade setup but because i feel there is valuable information to be learned about why multi-timeframe analysis is important. Please note that i am not looking to take a long position on this pair at the moment, it is simply outlining how i look for trade opportunities and the brief analysis behind...
Price sitting on important daily level and short term trend line. Expecting for the price to move higher.
As shown price is being supported. TP1 0.382 TP2 0.68 SL below X For higher probability wait for price to break above 88.75 level.
a gartly is on the chart:D(86.791) is 78.6% fio retracement of XA and B is 61.8% fio retracement of XA. It meet the requirement of gartly pattern. And the price now just move a little in these days---price seems to stop falling Sometimes a gartly can turn into bat: If it's a bat pattern, the D will be 88.6% of XA, it will be around 86.263. So we have two price...
Confluences: 1/ Trend 2/ Fib play 3/ 91 as resistance 4/ High test candle ( 2 in a row ) 5/ Bearish MACD 6/ We are bouncing of the 200 EMA on the Weekly chart After day one of the trade, U can see that we broke the CTL, which is a great sign for this pair to finally head lower again. It is not too late to enter, because today we got a pullback. Target 89
Price broke out of its downtrend making lower lows & highs. After strong CAD data we should see the CAD Dollar re gaining some strength. Watching on the 4 hour for a breakout of the channel for good longs potentially back up to 92.000ish resistance !
Not much risk here but a possible huge gain. 61.8 rejection and respected descending trend line again. TP down at touch of weekly trend line. Pending order set depending on market open
Fundamental: CAD is having short-term weakness due to slow NAFTA progress Weak economic data gives CAD weakness despite the BOC tightening Technical: Range break, will be retest, take opportunity of spike result from BOC Poloz speech to hit the sell limit D1 trend is on a downward channel.
Long position. Target 1 - 87.7 Target 2 - 88.7 Stop - 86.68
CAD/JPY Bullish Harmonic Pattern
Hey, youraveragetrader here! Enter on a shorter time frame or wait for the sell.