Possible drop for CADJPY. Price has remained under both 200 and 50 EMA indicating a short bias. Price has hit the resistance of the trend line channel as well as the horizontal resistance zone, both indicating a short bias. Small stop loss of about 40 pips and take profit of around 90 pips. FX:CADJPY
Good buy opportunity on this pair.
I have marked the entry, stop loss and take profit.
Capital risked: 1%
Risk to Reward - 1:2
Be alert and pay attention to the simplicity and similarities in the setups. Your mind is a sucker for habit so you can turn your technical analysis into one.
Happy trading all! :)
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
CADJPY has been stuck in this range for WEEKS. I have continued to check it's situation however it is still struggling to break 85.75 high and 84.30 low, I will continue to monitor this pair but not really any opportunities to take advantage of until it break this box. Once it does, I will wait for a retest and then enter. Patience on this one guys! Unless you...
This is a short opportunity which I'm looking to play out this week. About 200 pips. There are 3 take profit points. Wait for confirmation on it going down at each key TP. I've entered this today at peak 83.300 looking to capture 200 pips. Always lock in profit with SL at each TP. Trade safe
this is a simple pattern formation that's about to complete around 81.60 level. This zone has multiple structures in there so i'm very interested in taking this pattern. Rsi is in oversold condition by the way.
Let's see how it plays out.
Stops below X, targets at 382 and 618 retracements of AD leg.
If you want to share your view or simply ask...
this is one of the simplest method to read structure, in a downtrend, when a support is broken, it most likely will become resistance once retested. Stops above highs, target1 81,2x level. Target2 to be determined.
Don't know if i'm getting involved since i have two other CAD pairs on my watchlist.
I'll let you know.
If you want to share your view, or...
i want to share one of my today's favorite setups, which is on CADJPY. The chart explains everything but basically i've found several clues that all point in the same direction, namely long.
It's important you know i don't even start building a case for entry without structure; here we have higher timeframe structure and trading timeframe structure at...