An extended in-depth review of my previous already posted CAD/JPY trade.
Daily Analysis, we see previous structure of a rising wedge pushed to the downside, now we have another similar concept with a possible downside also.
I will enter if it can break down the minor support and the bounce support level below which can be used to get back into the trend line, it...
So far, I have got every trade prediction right, if you would like to check my previous ideas you can.
This one though can seem tricky.
We are in an ascending trend line of higher highs and lower highs, I feel like we hit a Higher High already and we should be trying to go for that Lower High now. The RSI is at 60 so it is almost at that 70 oversold number so we...
We are coming off a rising wedge which can indicate a move to the downside as we get narrower of the ascending channel.
Price has tried to break above the trend line but did not get past, we are currently in a retest but I believe that it will move to the downside and can hit TP 1 for our support and we shall see if it will continue down to our TP 2.
Broke out of my downtrend into an ascending one, used a fib entrapment for entry perfectly lined up with a cyclic zone and support zone, TP at next resistance zone and stop loss just below the support zone where the wicks lie.
Daily Analysis, market is on an uptrend, we are looking for buys.
I added in a fib retracement from lower high to higher high and in between my golden zone of 61.8 I saw a buy opportunity and it lined up with my ascending channel and on a cyclic zone (banks trade like this).