". There is still a possibility of temporary retracement to the suggested resistance line (90.90).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Ascending channel is formed in LTF the price might get rejected after 3rd touch and move down towards the previous swing point and then may continue to move upwards . We can take a risk entry at the 3rd touch with 15 pip sl and then hold till previous swing and can look for a buy after the rejection from previous swing with a good candlestick formation
Howdy! Hope everyone is all well and safe during the pandemic. My thoughts on CADJPY are that it has made a decent comeback towards 87.6. I can see a head and shoulders forming and the chart is approaching very strong resistance at 88. I am anticipating the right shoulder to form and for it to test the 78.6% fib. If this breaks I am thinking it could see itself...
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.
#CADJPY Continuing to rise in the upward channel that began its existence in October 2020, the price came to the strong resistance zone of 83.83 formed at the intersection of two lines. One of these lines is the channel resistance line.
The second is the currently strongest resistance line for the chart, created in 2015! Despite the fact that the last days the...
This pair has now had its previous structure attacked twice, my members will know that I I like to call this double-tap manipulation.
If we manage to cross back over the structure as illustrated, then we can consider a sell position, until then we must consider the posibility of continued upside.