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Cad-jpy

Continuation of the bullish side? CADJPY by ThinkingAntsOkMain items we can see on the chart: a) The price had been inside a Range (yellow lines) and was broken with a massive bullish movement b) After the first impulse we saw a reversal a now we are on a situation where the price is retesting the broken level c) Above the mentioned zone there is a new corrective Structure (purple lines) + broken descending trendline d) This situation presents good characteristics for a long setup towards the Bullish Target e) Our Long view will be annulated if the price reaches the invalidation zone
by ThinkingAntsOk
Double bottom | CADJPYAfter the successful trade on May 25, today we have new potential at CADJPY. The price forms a double bottom with a potential of 80.41 If you are not familiar with this formation: A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. What Does a Double Bottom Tell You? The double bottom pattern always follows a major or minor down trend in a particular security, and signals the reversal and the beginning of a potential uptrend. Consequently, the pattern should be validated by market fundamentals for the security itself, as well as the sector that the security belongs to, and the market in general. The fundamentals should reflect the characteristics of an upcoming reversal in market conditions. Also, volume should be closely monitored during the formation of the pattern. A spike in volume typically occurs during the two upward price movements in the pattern. These spikes in volume are a strong indication of upward price pressure and serve as further confirmation of a successful double bottom pattern. Common mistakes 1.Do not looking for the pattern within an up trend! 2.When the bottoms are equal or second is lower than the first one - this is not a double bottom. 3.Don't be greedy and do not rush, always wait for confirmation.
Long
by ForexTrendline
45
CAD/JPY Symmetry 4 Hour chartHello Traders Today i'm sharing this 4 hour chart of CAD/JPY and without looking at Indicators i can tell we are heading to another uptrend. you can become a successful trader by just looking at the market structure and symmetry. In this chart we can see 2 patterns a very hard to catch bullish triangle and a bearish head and shoulder pattern. See how easy you can predict where price will go after you identify this pattern and after the breakout occurs. For a triangle pattern you measure the widest part where the triangle begins and for a head and shoulder pattern you measure the top of the head to the bottom of the shoulder that will tell you where the market will retrace. after identifying this patterns i applied Elliot wave theory and we are currently at the beginning of an impulse hope you guys find this post interesting, if you have any opinion feel free to post
Long
by AlexPalmaFXTrader
CADJPY WEEKLY OUTLOOK JUNE 15-19CADJPY is looking to fulfill an inverted head+shoulders pattern based on the 4H and lower timeframes. The markets reacted this week with the Federal Funds Rate being kept at 0.25% for the USD. The markets have reacted strongly to that decision and has showed signs of trend reversals/USD strength in most pairs. The criteria I am looking for regarding this pair is 1 of 3 things. A 4HR bullish closure above 79.495. Whether that be a bullish engulfing candlestick, bullish inside bar pattern, or a bullish pin bar candlestick. This should take this pair to 80.490, which would equate to about 98 or so pips. Patience is key.
Long
by drewillixms
CADJPY - SWING - 09. JUNE. 2020Welcome to our weekly trade setup ( CADJPY )! - 1 HOUR Bearish open and break below main sr level. 4 HOUR Expecting another push to the downside following short/midterm trend! DAILY Great short entries, prices in pullback and about to drop! - FOREX SWING SELL CADJPY ENTRY LEVEL @ 80.320 SL @ 81.690 TP @ 78.480 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
8
CADJPY: Short Wisely with Inside Bar Pattern CADJPY reached a key structure resistance. dew to high volatility and very sharp bullish rally we need an additional confirmation to short the market. on 4H the price has formed a classic indecision pattern - inside bar. 6 candles are now trading within the range of the last strong bullish candle. to short wisely we need a 4H candle close below the underlined range. then we can short aggressively or on pullback. if this condition is met, chances will be high that the market will drop at least to 80.875. if not, I would not trade at all :)
Short
by VasilyTrader
6
CADJPY Short Trade *DAILY FIB*CADJPY is rejecting the daily fib 0.618 level and showing strong "overbought" levels on the 4hr chart. The last bullish wave is looking very overextended and I am keen to see a pullback in to previous structure and bullish 4hr TL. If the daily trend is correct then this 0.618 retracement should see price go back down to the previous lows (support) at 73.800. Longer term (months) if that support breaks then new lower lows could be made. The -0.27 fib extension level would be a good target at 70.800.
Short
by UnknownUnicorn772665
1
Simple & Profitable Strategy for a Sell Opportunity on CADJPYTrade Idea: This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs. Technical Analysis: * This pair has break the short-term support now resistance zone, and its now retesting the S/R zone. * Price has a slight bounce from the 200EMA and EMA14/21 is acting as resistance. * A bearish rejection candle confirming my bias and rejecting from the short term S/R zone. * RSI 14 (hlc3) has broken the upward trend line and is retesting that trend line, the RSI 14 is also below 50, indicating that sellers are gradually taking over for this pair. *Please note that any trades you decided to take are of your own risk. All trade ideas published here are for informational purposes only and are my personal trades.
Short
by JKFXTrading