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Cadjpytrade

CADJPY, 4hr timeframe, bullish divergence with flag patternHello my friends, Today I saw some good setup on CADJPY. This pair currently in bullish trend after it broken through 80.00 psychological resistance and goes to 80.90 level, it finally exhaust and then come down for a breather. In my opinion, price made a bullish flag pattern during it downwards movement. Price then finally broken above the resistance and currently retesting it as a support. I think we could see some more upwards movement from this pair as there is also bullish divergence on stochastic. Buy CADJPY 80.20 Stop loss 79.80 Take profit 1 @80.60 Take profit 2 @81.00 Take profit 3 @81.40 Use proper risk management Only risk 1-2% of your equity Disclaimer: I've been buying CADJPY since 80.20 Good Luck
Long
by HayatoDragonFX
2
CADJPY, daily timeframe, Bearish Flag trade setupHello my friend, There is a nice trade setup in CADJPY which could give us a worthy RR. I notice a bearish flag on the daily timeframe of CADJPY. Price already broken below the support as well. Right now price retrace up to 61.8 fibonacci level and this is actually a nice area to try selling it. I am going to play patiently on this pair and waiting for price to retest until 79.55 area as there are 78.6 fibonacci retracement and 200-EMA on that place as well. I am setting a pending sell order for this pair. Sell CADJPY 79.55 Stop loss 80.25 Take profit 1 @78.70 Take profit 2 @77.85 Take profit 3 @77.00
Short
by HayatoDragonFX
CADJPY - SELL OPPORTUNITYCAD - BEARISH 1️⃣ Oil prices dropped over 1% on Thursday amid concerns that second wave of COVID-19 infections could hinder fuel demand recovery. 2️⃣ A turnaround in the global risk sentiment as depicted by a sharp fall in the equity markets. JPY - BULLISH 1️⃣ The Japanese Yen gains as accelerating coronavirus infection rates continued to dampen hopes of recovery for the United States economy. 2️⃣ The recent escalation of diplomatic tensions between the world's two largest economies forced investors to take refuge in traditional safe-haven assets. ===== Technical: ===== - Im look to short this pair on SBR level + SMA 50 area on h1 chart. - CADJPY in bearish zone.
Short
by MonsunAsia