Cadjpyforecast
CAD/JPY good long position as we shared our analysis last week and market follows our predication and went exactly there to retest
now market is at demand zone and going long
look for bullish confirmation on lower time frames and enter long with your own money management
always remember that patience and discipline are the keys to success
last week prediction link is here
cadjpyLook for the pair to break the lower price zone and form a continuation into the corrective impulse.
CADJPY | Perspective for the new weekConsidering the long term Bullish perspective ( see weekly chart), I see a correction phase of the Bullish Impulse leg (began on the 21st of April, 2021) happening since the price broke below Y90.000 on the 17th of June 2021.
Tendency: Uptrend (Bullish)
Structure: Breakout | Supply & Demand | Correction phase
Observation: i. The successful Breakout (29th of April 2021) of Y88.000 level which "resisted" price for 48days confirms the strength of the Bullish momentum.
ii. Since price found peak @ Y91.100, we have experienced a downward spiral (correction phase) that we are yet to decipher when it will end.
iii. A long-term Bullish perspective was confirmed the moment price broke above and rejected the major Support/Resistance zone @ Y85.500 on the 5th of March and 21st of April 2021 respectively.
iv. The Breakout of Trendline also coinciding with the Breakout/Retest of major Support/Resistance level has a significant impact on the character of the Bullish momentum.
v. In this regard, I anticipate a rejection of the Trendline to spark a rally continuation in the coming week(s) as the area above Key level I @ Y88.200 pronounces Buy window I.
vi. Now should the price break below the Trendline in the coming week, another opportunity to buy is spotted on the chart as Buy window II which is right above Y87.000 zone.
vii. As soon as rally continuation is confirmed, I look forward to a transition into a Harmonic pattern (AB = CD) with parameters explained below.
a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg.
b. The B- to-C leg is expected to fall at 61.8% with the potentials of extending to 78.6% Fibonacci retracement of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B @ Y93.000 area.
viii. Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 500 pips.
Risk/Reward : 1:6
Potential Duration: 12 to 20days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the financial market (including foreign exchange, commodity trading, CFDs, stocks etc.) involve high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
CADJPY - Downside Continuation I feel as if the huge impulsive move was just a hunt for liquidity on this bearish trend, now that we have got it out of the way, we should be able to continue smooth sailing to the downside.
CADJPY-Long#CADJPY is not able to cross-resistance so it's gaining more power. Once it will broke the bearish trend then there will be confirmed buy.
CADJPY / Long / Dont let this "Bear Market" fool you...In my opinion this is still long.. The structure of price is yet to be broken and if you look at this properly you will see a higher high was created and a choppy retest is taking place..
TREND IS YOUR FRIEND
CADJPY - Bearish Opportunities !Welcome to our Trade Setups - June 03th ( CADJPY ) !
SELL CADJPY
ENTRY LEVEL @ 91.054
SL @ 91.230
TP @ 89.998
Max Risk: 1% - 3%!
Risk/Reward Ratio: 6
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Have a great week everyone!
CAD/JPY at multi-year resistance, fall likely!CAD/JPY has reached a multi-year resistance level. It looks unlikely
for the bulls to break through this strong resistance in the first attempt.
So, there might be a moderate correction soon.
A sell entry@91.10-91.60 with SL above 92 and initial TP at 88 could be
a possible sell signal based on the weekly chart.
CADJPY Bearish - Wyckoff Distribution OccuringCADJPY looks to be in Phase C of a Wyckoff Distribution. Price currently reflecting the UTAD, expecting price to follow the Distribution template on the chart.
CADJPY - Bearish Opportunities !Welcome to our Trade Setups - May 26th ( CADJPY ) !
SELL CADJPY
ENTRY LEVEL @ 89.926
SL @ 90.989
TP @ 85.667
Max Risk: 1% - 3%!
Risk/Reward Ratio: 4.01
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Have a great week everyone!
CADJPY - Bearish Opportunities !Welcome to our Trade Setups - May 19th ( CADJPY ) !
SELL CADJPY
ENTRY LEVEL @ 89.739
SL @ 90.734
TP @ 88.745
Max Risk: 1% - 3%!
Risk/Reward Ratio: 1
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
295.8 Pip Medium/Low Shorting opportunity A medium/low probability to go short has been given after the market failed to create a higher high, suggesting that we may see some bearish pressure at the given levels.
Expectancy: Short term
Idea: Possible bearish wave
Previous accuracy: 70.27%
Trail: 90.346
Sl: 29.1 Pips
Tp: 295.8 Pips
Caution, trade may be invalid if a higher high is created.
CADJPY For scalping 50 Pips CADJPY we have up trend and demand level we see pullback from 1.618
entry now
SL : 89.60
TP : 90.45
CADJPY Expected moveAscending channel is formed in LTF the price might get rejected after 3rd touch and move down towards the previous swing point and then may continue to move upwards . We can take a risk entry at the 3rd touch with 15 pip sl and then hold till previous swing and can look for a buy after the rejection from previous swing with a good candlestick formation
#CADJPY is a good long opportunity... looking for the best entryCADJPY is moving fast up. It has surpassed the 89 marks and it is probable to rise until 90 soon. We will be monitoring the opportunity looking for longs.
CADJPY 4H Short on Double Top DivergenceCADJPY 4H Short opportunity as the prices are moving corrective on 1H which shows no intent at the moment for the buyers to push prices higher. Mean while it is a all time frame counter trend trade and have to make sure the Risk amount should be 0.5% of your equity.
Risk Management should be fully implemented while taking short positions on this setup.
Stop Loss should be 20 Pips above the swing highs.
++ cad/jpy short idea ++TP - 84.421
ANALYSIS - Possible Double on 15 minute chart. Top around 89.14. Expanding Pattern within Expanding Pattern followed by Double Top on the Weekly Chart as well.
