Cadjpylong
EWT: CADJPY Preparing for 93.84Price has completed the C leg of corrective wave Primary ((4)), and the price will march for impulsive wave ((5)).
Wave Formations:
Wave ((1))
- Leading diagonal
- Formed on extreme low
- Termination sub-wave 5 is smaller than 3
Wave ((2))
- Zigzag
- 50% of wave ((1))
- Ended near the sub-wave 4 of an impulsive wave.
Wave ((3))
- Impulse (Five wave move)
- Extended 2.618% of wave 1
Wave ((4))
- Running triangle/running flat
- 38.2% of wave ((3))
- Ended above wave (b)
Wave ((5))
- Wave ((1)) was a leading diagonal, so wave ((5)) can't form as a diagonal. It will be an impulsive wave.
- Wave 3 can end near 161.8% of the 4th wave at 93.492.
- Wave 1= Wave 5 at 93.765
- Wave 5 can complete after touching the parallel channel at 93.849.
We can expect the following targets: 91.46-92.29-93.849
CADJPY SHORTS 📉📉📉📉Expecting bearish price action on this pair as price made a shift in the market strucutre from bullish into bearish, retraced back into a bearish orderblock on h4 + imbalance fill and rejected from there with a nice h4 bearish closure. I think we go for another leg to the downside.
What do you think ? Comment below..
CADJPY LongHey traders, in this week we are monitoring CADJPY for a buying opportunity around 90.9 zone. once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
CADJPY 200 Pip shortPrice is overall still in a consolidation from December 2021. Beginning 2022 we hit the extremes of last months consolidation and we´re right now at a Key level to trade back into the Consolidations Liqudiity point of December.
Small Risk Trade R to R is 1 : 6,2 // price could also go up one more time to close above the Key level, if this happens ill´Stop out and plan a new trade.
My Overall Target is 89.200, due to Bullish Seasonality, I´ll use some of my Short Profits to Hedge for a Double Break. MY Long Hedge will start 89.200 scaling in as low as price goes without hitting my stop loss on the long position.
CADJPY LONG OPPORTUNITYHey, if you like this idea be sure to support with a like and a follow.
Here is my analysis for CADJPY for the upcoming week, wait for price to pullback to retest SUPPORT and take a long up to the next resistance area where we can expect a sell.
What are your thoughts? Leave it in the comments below!
Blue Signal FX Rules-Based Trading
1. CHECK THE NEWS!
2. WHAT IS THE OVERALL TREND?
3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE.
6. CHECK FOR DIVERGENCE.