CADJPY -SELL BEFORE THE NEXT BULL RUNCADJPY has broken the Fibonacci retracement
level of 0.618. i am expecting this to down to 0.382
which will intersect with the blue support line i have down
thou Stoch RSI has gone into oversold territory i am still expecting some more fall before a bounce back
this will be a strong buy after the final retracement
See previous analysis
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CADJPY testing major resistance, prepare for a potential reversa
CADJPY is testing major resistance at 86.26 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, pullback to descending resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 85.86 (Fibonacci retracement, horizontal overlap support).
RSI (55) sees descending resistance line provide corresponding intermediate resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CADJPY Reverses to the 0.618 level Hey Guys,
Looks like CADJPY has finally made a reversal and going on a breakout above the resistant level.
Hence, i believe that this trade has the potential to reach the 0.61 level and i would use this opportunity to gain some profit
T/P1 at 82
T/P2 at 82.36
S/L at 81 .15
R:R 2.5
Please don't trade more than 2% of your capital
Cheers!
CADJPY ready on upward movement after a pullbackHey Guys,
Here's a good trade that i believe will make some profit.
If we look at the 4H TF, the support is around the 81.30 price, and as you can observe, there is multiple rejections around this price point, followed by upward trend.
Then, there is a minor resitance at the 83.47 level followed by a pullback. From here, i think we can buy the CADJPY to the level of 0.5.
T/P at 85.70
S/L at 80.80 (you can also S/L below the previous low at 80.50 back in 04/2017, but i feel this is where my risk level is at)
R:R 1.8
Please don't trade more than 2% of your capital
Hope you get some profit out of this idea
Cheers!