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Cadjpysignals

CADJPY Buy on this pull-backThe CADJPY pair has made a parabolic rise since the March 08 low, which even exceeded our expectations based on our most recent trading idea: Even though the dominant pattern remains bullish on a Fibonacci Channel, the strength has changed and is now more aggressive. The price action is on the 1D time-frame to better depict the medium-term volatility but the RSI below is on the 1W, in order to show you a key signal for when to book profit. The suggestion is to buy as close to the 1D MA50 (blue trend-line) as possible as a pull-back is expected, similar to the March 17 - April 20 2021 fractal. We expect the top to be on the 3.5 Fibonacci extension at least but with such aggression can easily go higher. So the suggestion is to take profit and sell when the 1W RSI makes a Double Top in similar fashion as on May 31 2021, which marked the top of that bull run. Notice how the RSI now is at the same level as then. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
5
CADJPY Buy Signal with structured targetsCADJPY has been trading on a Fibonacci Channel ever since the March 2020 COVID fueled market bottom. The bullish trend that followed has been gradually making Higher Highs on the next Fibonacci extension. Currently the last two Highs have been on the Fib 2.0 extension. The Support Zone of this pattern is constructed by the 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line). Most recently the pair hit that zone on December 20 and rebounded immediately. The sequence is very similar in terms of CCI with the the price action from May to September 2021. If it continues to be replicated that way, we should be expecting a strong rally soon. Follow a structured target set: first the 1.5 Fibonacci extension and if that breaks, then the 2.0. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1
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
CADJPY | Perspective for the new weekWith a successful break above Key level @ Y82.150, the potentials leading to new higher highs becomes very likely as I look forward to a correction phase in the next couple of weeks before the new rally begins! Tendency: Uptrend ( Bullish ) Structure: Breakout | Channel | Supply & Demand Observation: i. The long term perspective of the CADJPY has been Bullish since mid-last year before price action got caught within a Channel. ii. Channel has been respected since the beginning of the year (2021) before a successful Breakout happened during the course of last week trading session. iii. The Y82.150 area that has been a Supply zone for the last four weeks finally surrenders to buying pressure last week. iv. This Breakout is a sign that Buyers have begin to gain momentum has Sellers give in with the hopes of waiting for a good price to sell. v. Considering the character of price during last week trading session; I expect to see a Corrective phase that will channel price into a good Buying zone around Y81.400 and Y82.200 (represented with Buy Window I and II on the chart). Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:5 Potential Duration: 6 to 12 days NB: This speculation can be considered to make decisions on lower timeframes. 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.
Long
by darcsherry
4
CADJPY | MY PERSPECTIVE FOR THE WEEKThe CAD continues to struggle through the first half of the month as the Yen looks to re-emphasize its dominance in the coming week(s). As I look forward to the Breakdown of Daily trendline, a correction/retest of this line might be a simple signal for me. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Reversal Pattern (Head and Shoulder) Observation: i. Bullish run that started in August 2020 culminated at Y81.600 followed by Lower Highs and Lows. ii. Breakdown of Neckline @ Y80.00 followed by a rejection of this zone is enough reason for me to support the Bearish bias on this one. iii. My Key level at Y79.300 appears to have been broken; it is also worthy to note here this level also coincides with the Trendline on Daily chart. Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3.5 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. 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
2