Cad-jpy
CADJPY SELL [DAY TRADE] ENTRY 83.674
TP 83.323 ( pips 35 / RR 2.24 )
SL 83.831 ( pips 15.6 )
The trade alert was taken on a 30mins chart. Small SL to manage possible bullish breakout.
Bearish continuation pattern (black) failed. Price at DC resistance now.
161% TP lines up with DC support. ~ If you want to enter this trade, you can wait 9mins for the new 30mins candle... incase it breaks above DC then don't enter.
Market Optimism - CADJPY Moving HigherWith a "Phase I" trade deal between the US and China finally agreed upon, markets have continued to take on a "Risk On" mantra in recent sessions.
In fact, this can be seen in the $CADJPY pair, as the Canadian Dollar appears to be marching higher since the lows of August 2019.
On a technical basis, bulls continue to be in control, with prices still in a "Rising Channel" formation. To lend more support to this view, it also seems that an "Ascending Triangle" pattern has formed, coupled with a rising RSI.
If such market euphoria continues, we could see prices break higher through $83.64 (Green Trend Line) and make a run for $84.59 (Orange Weekly Resistance Line). However, if this recent bullish momentum fails, we could see prices fall back down to $82.41 level (Bottom of the Rising Channel).
CADJPY NEW UP TREND??CADJPY has entered a new up-trend last month and i really would like to see if they can hold it there! Right now this zone is looking very interesting, on a lower timeframe (1h/2h) looks bearish, but 4h still looking bullish! My opinion only. both scenarios that i'm looking for are explained in the image. i would much like to go with option A, if you ask me!
Leave your comment!! let me know what you think or if i miss something.
Setting Up For Breakout Trade From TriangleWe gotta breakout setting up as it is completing a triangle.
I want to see this breakout happen this week.
Both targets have been set for whichever direction it takes once it's ready for takeoff.
BULL TPS:
• 82.239
• 82.479
• 82.753
• 83.230
BEAR TPS:
• 81.523
• 80.926
• 80.640
Sell CAD/JPY | Dec 4, 2019Note: I said in the video that there is no significant data from Canada during NFP release, although employment data from Canada is gonna be released at same time but it will be ignored by the market. I have always seen that other economic data are ignored during release of NFP as traders predominantly focus on NFP.
CADJPY - FOREX - 27. NOVE. 2019Welcome to our weekly trade setup ( CADJPY )!
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1 HOUR
Bullish pressure without pullbacks
4 HOUR
Bearish waving market in upside wave right now.
DAILY
Overall bearish market in a pullback, great short entries!
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FOREX SETUP
SELL CADJPY
1ST ENTRY @ 82.060
2ND ENTRY @ 82.260
SL @ 82.630
TP @ 81.430
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN