STRONG RESISTANT ON THE DAILY , OVERBOUGHT IN 4 H AND 1 H , USDJPY IS IN A DOWNTREND ALSO
FX:CADJPY Safe Trades;
Still following this pair. Price is approaching to the desired 90.00 level where a triple cycle might complete. That would be a great sell opportunity if we get bearish divergence + bearish candle pattern on the H4 chart. Target 1: 85.00 Target 2: 80.00
Sell This pair as it reaches for 100% fibo extension of the first cycle and 61.8% fibo extension of the second wave. This double fibo projection zone will provide a resistance zone and we have a bearish divergence as well. Sell the break of the yellow bottom TL protecting SL above last high before the TL broke + spread + two pips. TP aiming support zone 83
FX:CADJPY Overbought territory! Safe Trades;
sell if ends consolidation..
CAD continue to ride down south due the reason we all knew about ;) A significant potential of kissing 84.764 can't be rule out - Please set your SL accordingly . Happy trading y'all
BEARISH BAT on the 4HR chart (pink) BEARISH BAT on the Dailychart (blue) if the bat on the 4hr chart doesn't workout and keeps climbing I will be looking for a reversal at the 91.57 mark for the daily chart.
FX:CADJPY Nice cluster right above the 78% fib; For now, rsi is showing bearish divergence; Eventually we would be able to short a C-D leg for an eventual bullish cypher that completes arround 81.42$; On the other side, an eventual 5waves impulse can throw the price above weekly resistance(W1); CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext...
Its Time to Go For Some Good Pips ,this trade have an excellent risk reward ratio,the trend in w chart is bearish ,now in Daily its look like a symetrical triangle .
FX_IDC:CADJPY . Double Bottom @monthly&weekly support; . The Neck @ weekly resistance; *Double bottom is only valid if the price break the neck; . Bullish impulse: - IF this is the 3th wave, it "should" terminate around the 161% extension, close to the neck, and then a small pull back expected that can't cross the top of wave 1 forging wave 4, and... wave...
Reasons to go short - Overall trend is bearish First time coming into an area where there was a previous strong sell off. A morning star reversal pattern on the daily chart Positive risk to reward
Price is above 84.65 so all of this could be wishful thinking and the target remains 87.00/87.50 however; Sell 85.00 for TP1 - 83.00 (3:1 reward risk) TP2 - 77.50 target (12:1 reward risk) In reversal phase in 3x longs above 85.40 for moves into 87.00
Possibility of a bearish bat pattern completion on this pair. Reasons to short - Completion of bearish bat pattern Coming into an area which previously saw a big sell off, and is now returning to this area for this first time (yellow box) Pair in a longer term bearish trend Positive risk to reward