The bullish trend is gaining ground with no signs of slowing down. A potential short term sell-off may be near, this could lure some sellers into the market only for the price to reverse when it hits our order blocks marked.
I'm already long on this since 82.360, there were posts made when price was at that level. But if not in the trade there is now an opportunity for a smaller trade. Price has retraced to a support level and if it rejects then longs can be entered up to the same target price as mentioned in previous posts of 84.571. SL just below support and 0.5 Fibonacci
- Multiple time frame confluence (bullish trend on each time frame in current swing).
- Break of pivotal zone and push above.
- Currently pushing bearish trend line on the monthly/weekly time frame.
If price breaks, closes above and retests this key trend line, I will be looking for long opportunities.
We have seen a bounce off the lows in the CADJPY cross, extending slightly past the 78.69 fibbo resistance, I remain a seller of this pair up until the 79.10 area. Therefore I have entered a short at 78.80 & will sell another clip at 79.10 if we get there. I expect to head towards and test the low around 78 again.
Short at 78.80
Short 2nd clip @ 79.10 (if we get...
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
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...