CADJPY in Retracement MoveBismillah
For the bigger timeframe, i would like to say that this pair is currently start moving up and uptrend will in surge. However, in the lower timeframe, which is TF H4, there is a valid signal that a minor retracement trend will be taken place. It can be clarified by price successfully breaking up the lower trendline of TF H4, and also close below the support of the latest support line.
So it is a hold for those who are trade this pair before take the decision of Buy. For me, it is simple. I will wait for the minor retracement exhaust and start back to buy whenever signal is popping up.
My signal entry is very easy and clear, which is i will instantly enter whenever Bullish Engulfing formation is being formed. Thank you
Cadjpytrade
CADJPY Short term Bullish - Possible NFP & CAD News trade todayCADJPY have been trading within multi-sessions bullish channel, so far price almost reached the top of the channel, as we have an important release about CAD unemployment figures today, i am seeing the scope for a breakout of this channel, expecting the price can test 81.90+.
However this is a short term picture, though overall the momentum on the bigger time frames is still bearish. Please respect the money management guidelines when trading this market.
Good luck!
CADPY - NEXT MOVES - TAKE NOTEFREE ANALYSIS ON CADJPY. Possible bearish move about to unfold. Thou i am expecting this to move up a bit before the move down starts
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Elliot Wave View: Impulsive Decline in CADJPYShort Term Elliott Wave view in CADJPY calls the bounce to 84.37 on April 17, 2019 as wave 2. The pair is currently in wave 3 lower and the internal subdivides as an impulse Elliott Wave structure. Down from 84.37, wave (i) ended at 83.49, wave (ii) ended at 83.925, wave (iii) ended at 82.66, wave (iv) ended at 83.33, and wave (v) ended at 82.53. This 5 waves decline ended higher degree wave ((i)) of 3. Pair is currently in wave ((ii)) of 3 correction and the internal subdivides as a Flat Elliott Wave structure.
A Flat is an ABC structure with subdivision of 3-3-5. Up from 82.53, we can see wave (a) ended at 83.2 and subdivides in 3 waves. Wave (b) ended at 82.59, and wave (c) ended at 83.35 peak. The blue box of 83.26 – 83.67 shows 100% – 161.8% fibonacci extension of wave (a)-(b) was the area where it was expected to end wave ((ii)). More importantly however, as far as the invalidation level of 83.35 stays intact, expect the bounce to fail and pair to extend lower.
READY TO CATCH SOME PIPS ON CADJPY?Good buy opportunity on this pair.
I have marked the entry, stop loss and take profit.
Capital risked: 1%
Risk to Reward - 1:2
Be alert and pay attention to the simplicity and similarities in the setups. Your mind is a sucker for habit so you can turn your technical analysis into one.
Happy trading all! :)
Malika K