The pair finally broke out of its dowtrend now looking to make a run back into previous resistance with a 0.5/1.272/1.618 FiB confluence.
The pair completed a 0.5 retracement of the previous leg following divergence short targeting a 2.618/0.382/0.886 FiB extension.
Possible bounce off support looking for a run into 0.5%/1.618 resistance.
This is not a signal but just an idea of what could happen.
Possible bounce off support looking to make a run back into resistance?
Im looking to long the pair if i have a comfirmed bottom. if this candle closes as an inverted hammer i will go for a 0.786 retracement.
Needs to find a bottom first but starts looking nice..
Im going against the rally of the dollar and bullish bias of this pair looking for a nice retracement short. Rejection on and break back into the previous longer trendline Also we have a BB% trend break wich validates this idea.
I do think that the CAD will eventually be stronger then the dollar so i'm anticipating a ABCD playout with a run back into resistance for the last time. If the pattern completes and the resistance holds this will be a very profitable trade with an awesome risk reward ratio. These are the ones we go for!
This is not a signal but expecting more downside on GJ despite the earlier bb% break's long favour. Current yen-strenght and on 3m projections a 1.618 confluence? Good R2R
The pair isnt giving us much to play with on the lower TF's but anticipating a flag break up north. A break of support would invalidate this idea.
BB% Break long looking to make a run back into resistance (yellow box) with a 0.5 0.618 ratio confluence.
Get ready to long USDJPY BB% break but still need some more confirmation.