Cadjpysetup
Simple & Profitable Strategy for a Sell Opportunity on CADJPYTrade Idea:
This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs.
Technical Analysis:
* This pair has break the short-term support now resistance zone, and its now retesting the S/R zone.
* Price has a slight bounce from the 200EMA and EMA14/21 is acting as resistance.
* A bearish rejection candle confirming my bias and rejecting from the short term S/R zone.
* RSI 14 (hlc3) has broken the upward trend line and is retesting that trend line, the RSI 14 is also below 50, indicating that sellers are gradually taking over for this pair.
*Please note that any trades you decided to take are of your own risk. All trade ideas published here are for informational purposes only and are my personal trades.
CAD/JPY Potential Short Setup Good Risk Reward Trend TradeI like the look of this setup. A few confluences with a trend line break , making lower highs and lower lows. Nice Fibonacci retracement in play aswell retesting previous wick area structure. Enter with caution always & only if it aligns with your analysis.
CADJPY Breakout Rejection - Consolidation In Short Term. SELLCADJPY's attempt at making a breakout above the 76.800 level seems to have lost strength, and I see it now consolidating in a narrow range between 76.800 and 76.650 levels in the short term. A clear trend maybe seen after getting out of this consolidation range, but right now, I will look at going short in this pair since the breakout attempt seems to have been rejected. I would set my take-profit level at 76.650 level, which is not much, but since this is the consolidation range, we cannot expect a very high take-profit range anyway.
POTENTIAL BEARISH MOVE ON CADJPY TO COME Price is currently in what i would class as a bullish retracement. i am looking for price to test the marked point of resistance before advancing lower. Stop loss marked at the red price level and take profit marked at the green price level.
DO NOT risk more an 2%
CADJPY TP1 77.20, TP2 77.65HI, TRADERS
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CADJPY LONG! A Look at Daily Good news First:
1. Pair is trading at multiple Buy-Zones.
--For Long position to fully execute, Cad HAS to be stronger than JPY, preferably on all time-frames (something to eye)
Notably also is price battling a deep trend-line-- Otherwise, We Are Good To Go!
Note: Idea is to complement your research.
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