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Cadjpysignal

CADJPY Might Break and Close Below the Support Welcome back Traders, Investors, and Community! Hi Traders, CADJPY on H4 if it breaks and closes below the Support line, on the lower TF we can look for potential entry for short. On the other hand it might continue to go higher to around 89.04 before going down. ⬇️Sell now or Sell at 89.04 ⭕️SL @ 89.71 ✅TP1 @ 87.51 ✅TP2 @ 86.5 ✅TP3 @ 85.1 We will have more FREE forecasts in TradingView soon ❤️ Your Support is really appreciated!❤️ Have a Profitable Day
Short
by Fibonacci-Signals
2
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.
Long
by darcsherry
CADJPY | Perspective for the new week | Follow-UpWith over 800pips run since my last publication (see link below for reference purposes); It appears we are at a juncture in the market where a trading opportunity is building up as structures insinuates a reversal. The CADJPY pair appears to be losing its bullish strength since hitting her peak @ Y 90.600 which was followed by Lower lows that culminated in a successful Breakdown of Key level I @ Y90.350 during last week trading session. However, this bearish potential seems limited at the time being as we still need to keep our fingers crossed for further confirmations that will trigger selling opportunity ( a possible correction phase in anticipation of a rally continuation). Tendency: Downtrend ( Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. The Bullish Trendline indicated on the chart has been a significant factor in deciding the prevailing direction of price action since last month. ii. Pivot point Ito IV emphasizes a visual representation of price action respecting a support line. iii. It is observed that the thrust from Pivot IV appear to have lost momentum which has been consistent with the pattern in the past as the price rejects Y90.500 during last week trading session. iv. The rejection of Y90.500 give rise to the appearance of the Double Top pattern - an extremely bearish technical reversal pattern that forms after the price reaches a peak two consecutive times with a moderate decline between the two highs. v. This been said, I shall be looking forward to a Breakdown/Retest of Trendline which shall also coincide with Breakdown of Neckline (Key level II) @ Y90.000 (a psychological level) for confirmation in the coming week(s). vi. CAUTION: A Breakout/Retest of Y90.350 shall render this set-up invalid with the possibility of rally positive. Please note that we are looking for an opportunity for Bearish momentum below Trendline... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 6 days 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 foreign exchange market (including foreign exchange trading, CFDs, etc.) has a 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.
Short
by darcsherry