FX:CADJPY
Support H4 broken, turned resistance, Daily support at 91.47 waiting
Eventual Bullish Crab and Bat patterns
BAT :
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
CRAB
Point B:
38.2% to 61.8% XA
Point C:
38.2% to 88.6% AB
Point D:
161% ext XA
224% to 316% ext AB
Target:
TP1 61.8% CD
TP2 127%...
The CADJPY is in a corrective phase on the daily. has a strong cross of the 50 EMA on the daily and a zero line cross on the MACD. The daily trend line is my target for this trade.
This is for my trade journal only.
Gartley pattern very close to the second target at 61.8% from AD leg, very close with the point D target for Bat pattern, both right above support price zone;
Now, IF we get point D for the Bat pattern, and IF we get a retracement at 61.8% (2nd target, TP2), we know that the price can forge an AB=CD pattern, with target (pink Point D) synced with previous...
TRYING MY HANDS ON MORE PAIRS NOW THAT THE MAJORS HAVE BEEN PERFORMING BADLY FOR ME.
RECENTLY REJECTED FROM 100.00 ROUND NUMBER RESISTANCE.
THIS PAIR MAY SEE SOME CORRECTION TO 97.00 OR EVEN 96.00.
A TRADE WORTH LOOKING OUT FOR NEXT WEEK.
PRICE PULLED BACK INTO MY BUY ZONE. TARGET AT MAJOR PHYSIOLOGICAL BARRIER AT 100.00. THIS PAIR BROKE ABOVE THE 200 SMA COUPLE DAYS AGO SO THIS COULD POTENTIALLY BE THE START OF A NEW UPTREND ESPECIALLY IF WE CLEAR 100.00.
CADJPY recently broke through resistance @ the 96.80s, a level that was tested multiple times as recent as Friday.I'm hoping we see one more test before resuming to the upside.
BUY @ 96.80s
SELL @ 98.40s
STOPs below the next level of resistance @ 96.40s
Looking to take a small risk nibble on the CADJPY for a possible breakout of the 97.00 handle. Trend seems to be shifting to the long, but there is some resistance areas above. So, conservative target as well.
