CADJPY: Trading Plan - 8/Mar/2023Hello Traders,
Hope you all are doing good!!
I expect CADJPY to go Down after finishing the correction.
Look for your SELL setups.
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Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
CADJPY
AUDJPY I Intraday long from demand zoneWelcome back! Let me know your thoughts in the comments!
** AUDJPY Analysis - Listen to video!
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✅TS ❕ CADJPY: reached the resistance✅✅ CAD/JPY reached the resistance area twice.
The chart is forming a downward structure.
The price will start to decline.✅
🚀 SELL scenario: short to 99.39.
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CADJPY SHORT positionThe idea discusses a bearish on the CADJPY currency pair based on a strong fundamental , as well as several bearish technical signals. The analysis recommends placing a stop loss to manage downside risk and advises traders to do their own research and due diligence before making any trading decisions.
Possible Downturn in CADJPYThe CADJPY is still in an uptrend, although it has shown signs of weakening over the past three weeks. This is evident from the converging peaks and the inability to make new highs, as well as the appearance of divergences on momentum indicators. By examining the weekly chart, it is clear that there is a Doji candlestick, while the daily chart shows a bearish engulfing candlestick pattern, indicating strong selling pressure. Looking at the 4-hour timeframe, we can study the movement based on the general direction of the currency, and we can see that the price has formed a triangle pattern, which it is still responding to. We are waiting for the price to retest the upper edge of the triangle as a final attempt to climb before breaking the triangle and heading down towards 99.5.
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CADJPY: Nice 5:1 SpottedSpotted a nice move here, we've broken through and retested resistance (now support), whilst respecting the long term dynamic trendline on the daily.
I'm going to get involved with this 5:1 opportunity.
I don't expect JPY to be weak for too much longer so I'll be watching this one closely!
CADJPY I Potential long from supportWelcome back! Let me know your thoughts in the comments!
**CADJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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CadJpy LongI am looking to long CadJpy once it breaks the 99.257 resistance and closes above it. It might first bounce and come back to retest the 96.234 support to create a Head & Shoulder pattern before it goes long but I will wait for confirmation.
My setup will be invalid if it fails to break the above resistance and breaks the 95.400 and closes below. That is when I will start to look for short opportunities
CADJPY - 2hrs ( Buy Trade Target Range 180 PIP ) 💲Pair Name : CAD/JPY
🗨Time Frame : 4hrs
➕Scale Type : Large Scale
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🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
✔️ Key Technical / Direction ( ↗️ Long )
Type : Mid Term Swing
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🔰Bullish Break
100.550 Area
Reasons
🔘- Major M / Turn level
🔘- Visible Range HVn
🔘- Poc Area Break
🔘- Bullish Flag Pattern Break
🔘- Prev M / D High
🔘- Fixed Range Hvn
🔰Bearish Reversal
102.500 Area
Reasons
🔘- Major Turn level / w
🔘- Visible RangeLvn
🔘- Pattern Target
🔘- Fibo Golden Zone
CADJPY - Bullish OutlookCADJPY : With Canadian Dollar Announcements today. Looking for above 2 scenarios. I think CAD will get stronger after announcement. Plus Rising oil, prices , interest rate differential will favor the CAD and Bad for JPY. Charts explains the rest.
Do comment on the idea and odds