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Cadjpypattern

CAD/JPY SETUP Sell & BuyChart is an expectation of market setup via harmonics. Also good to observe that market formed a double top between A and C which is considered a sell signal. Market already selling from/on target C. You can join the sell to D as there still money to be made. There may be some retracement up before market gets to D. This will be good for entry to D; * Chose your entry point wisely via indicators, etc. * Note - Sell TP2 at target D in pattern. If market hits target D then; * buy breakout to upside. * Note - TP1 on buy = TP1 on sell Considerations on where to collect profit; * Pattern completion can sometimes be annulled after TP1 of sell from target C. * Pattern D breakout can sometimes finish its run at TP1. DISCLAIMER; Trading carries risks, ideas are for guideline purposes only. Do set stop losses when trading & be generous with how much room allow for candle wicks. There is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. * Do check related ideas below for those I've guided.
by Dani0
CAD/JPY 1H Chart: Channel UpCAD/JPY 1H Chart: Channel Up The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that expectedly started to form as soon as the preceding downtrend has changed. By the moment, it already consists of four confirmation points and might be broken in the present week. Given that that the 100-hour SMA and the updated weekly PP at 87.24 have formed a combined support barrier, it is unlikely that that currency pair will manage to break to the south. This probability increases even more, taking into account that the channel’s bottom boundary is also secured by the 200-hour SMA. The opposite side, in contrast, has an absolutely free area up until the weekly R1 at 88.15 and the monthly PP at 88.18.Thus, the surge is expected to continue at least until that resistance level.
by UnknownUnicorn890690